Batista Brothers Make Debut in Oil With Acquisition (Correct)

Brazilian billionaire brothers Wesley and Joesley Batista are making a debut in the oil and gas industry through the family company Grupo J&F’s acquisition of Fluxus, which has agreed to take over production assets in Argentina.

Fluxus co-founder Ricardo Savini will hold the role of chief executive officer at the unit, with the other founders, Jorge Lorenzón and Vitor Abreu, also remaining in management, Grupo J&F said in an emailed statement.

The Batistas control JBS SA, the world’s largest meat supplier. The family has been making moves to expand beyond the agriculture space and earlier this year it made ...