Report: Leucadia considering sale of National Beef
The Wall Street Journal is reporting that Leucadia National Corp., the majority shareholder of National Beef, is considering selling all or part of its share in the beef company. The company holds a 79 percent stake in National Beef, which is purchased in 2011 for $868 million.
The report notes that the process is in an early stage and may or may not happen. The interest in a sale comes at a time when the profits in the beef industry are climbing, thanks to increased consumer demand and decreasing costs.
“We can now say with much greater confidence that the beef cycle has indeed turned in our favor,” company executives wrote in their annual letter to shareholders, which was issued in late February 2017.