SAO PAULO (Reuters) – Raízen, a joint venture between Cosan and Shell in the sugar and alcohol sector and in fuels, said on Tuesday night that it had completed the acquisition of all shares issued by Biosev, after compliance with all the conditions precedent to close the transaction.
The company had announced the acquisition of Biosev from the Louis Dreyfus group in February this year, for 3.6 billion reais and shares, in a move that expands its global domain in the sugar and ethanol segment.
Also according to a material fact published by Raízen on Tuesday, as part of the transaction, Hédera Investimentos e Participações exercised subscription bonus and became holder of 330,602,900 preferred shares of Raízen, or 3.22% of its capital.
“The completion of this operation consolidates Raízen’s leadership position in the energy transition process by expanding the supply of more efficient, clean and renewable energy,” said the company, which now has 35 bioenergy parks and a processing capacity of 105 million tons of cane per harvest.
(By Gabriel Araujo)
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