Monday, July 10, 2017

Raízen accepts conditions of creditors of Tani for acquisition of power plants

RIO DE JANEIRO-Raízen Energy, a joint venture of Cosan and Shell, has accepted the conditions imposed by lenders of Tonon Bioenergia, which is in bankruptcy, for the acquisition of power plants of Santa Cândida and Paradise, informed the company in a statement to the market on Friday.
For the completion of the acquisition, the company said in a statement, there are now legal, including approval by the Administrative Council for economic Defense (Cade).
Raízen made a binding proposal for both Tani Mills last month, 823 million reais.
Largest producer of sugar and ethanol from Brazil, Raízen had 24 units producing sugar, ethanol and bio-energy.
If the deal is completed, will mark a resumption of expansion by acquisitions of the Group Cosan sugar-alcohol sector after a period of consolidation of the sugar and ethanol businesses.
DCI - 10/07/17
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