Raizen buys Biosev to become a leading sugarcane and ethanol producer

In Brazil, Reuters reports Cosan and Shell’s joint venture Raizen has bought Louis Dreyfus’s Biosev for a cash payment of $670.3 million in addition to nearly 5% of Raizen’s shares, mixed between preferential and redeemable shares. Biosev’s debt will remain with current shareholders, however. The transaction will make Raizen one of the largest sugar and ethanol producers in the world with 35 sugar mills representing 17% of the 2019/20 crush in the country’s key center-south region.