Cosan and Shell looking to spin off Raizen with IPO

In Brazil, Reuters reports that Cosan together with Shell are planning to spin off their joint venture Raizen through an IPO, although a timeframe hasn’t been announced. The move is part of Cosan’s attempt to streamline its various businesses, including launching IPOs for two of its other energy units, Compass and Moove. Before the IPO gets moving, however, Raizen is looking at potentially taking over some of the refineries that Petrobras has up for sale.