Copersucar files for Brazilian ethanol IPO

In Brazil, Copersucar has filed to sell an undisclosed amount of shares in an IPO. The profits from the IPO will be used to expand a port terminal and build an ethanol pipeline, according to an anonymous source from within the company. This step will help to speed up a $920 million investment plan as the company prepares to trade 8.1 million tons of sugar this year.  Banco Itau BBA SA has been cited as the lead coordinator, although Bank of America Merrill Lynch, Credit Suisse Group AG, and Goldman Sachs have also been brought in to help arrange the sale.