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Time has come for Brazil to redeem JBS investments, official says

SAO PAULO, Sept 13 (Reuters) - The president of Brazil's
state development bank BNDES said that "the time has come for
Brazilian to redeem their investments" in JBS SA, the
scandal-ridden meatpacker in which the lender's investment arm
has a 21 percent stake.

BNDES President Paulo Rabello de Castro made the remarks in
his verified Twitter account, without elaborating. Currently
BNDES is involved in a legal dispute with the controlling
Batista family over control of JBS, the world's No. 1
meatpacker.

BNDES Participações SA, the bank's investment arm, sought to
push JBS Chief Executive Officer Wesley Batista out through a
lawsuit with the backing of other minority shareholders. Efforts
to contact press representatives for the bank were not
immediately successful.
(Reporting by Guillermo Parra-Bernal and Bruno Federowski;
editing by Diane Craft)

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