Raízen offers R$823 mi to buy power plants from Santa Cândida and Paradise, Tani

Raízen Energy, a joint venture of Cosan and Shell, reported that presented on Tuesday proposed binding of 823 million dollars to buy the plants of Santa Cândida and Paradise, Tonon Bioenergia, which is in bankruptcy. 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. Santa Cândida unit has ability to grind the sugar cane of about 3,200,000 tons per harvest. The plant has a production capacity of 123 million litres of ethanol per year and 221,000 tons of sugar, according to the website of Tani.
The Paradise has milling capacity of 2,500,000 tons per harvest and may produce 91 million liters of ethanol per crop, as well as 140,000 tons of sugar. Second note of Raízen, Santa Cândida and paradise plants will be organized in the form of production unit (UPI Tani), and the sale will be made in a court auction, bids closed mode.
"We emphasize that there is, so far, any concrete result of the competitive process or time limit for completion of the same," said Raízen. The company also said that, if your proposal is winner of the auction, the signing of the definitive documents related to the acquisition of UPI Tani will be subject to the fulfilment of certain conditions precedent.