Cosan in Food Merger, Firms up Comgas Buy

Cosan in Food Merger, Firms up Comgas Buy

Brazil M&A

Sugar and ethanol company Cosan and rice producer Camil Alimentos have agreed to merge their food divisions, Cosan says. Camil will assume BRL275m ($138m) in debt, and pay BRL70m cash within 3 years, for the Cosan Alimentos units operating the Uniao and Da Barra sugar brands. Cosan will also get an 11.72% position in Camil. The deal is still subject to regulatory approval. Officials at the companies decline to comment or do not respond to request for comment on their advisors. The deal to effect

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