Raizen offers $248 million to buy two Tonon Bioenergia ethanol facilities

In Brazil, Cosan said in a securities filing that Raizen has offered $248 million to buy the Santa Cândida and Paraíso ethanol distilleries from Tonon Bioenergia. Tonon is currently going through in-court reorganization and was putting the two plants up for auction. The Santa Cândida facility produces 123,000 cubic meters of ethanol annually in addition to sugar while the Paraíso facility produces 91,000 cubic meters annually, also in addition to sugar. Selling the two mills would leave Tonon with its Vista Alegre facility.