Cosan Continues Diversification with Comgas Buy

Cosan Continues Diversification with Comgas Buy

Brazil Panama M&A

Cosan has agreed to pay BRL3.4bn ($1.79bn) for the 60.1% of Brazilian gas distributor Comgas owned by BG Group, it says, following discussions announced earlier this month. The deal marks an entry for Cosan into gas distribution, as it continues expanding from sugar and ethanol into fuel distribution and transport both inside and outside Brazil. The price implies an EV/Ebitda multiple of 6.5x, a Cosan official says, adding that it has obtained a BRL3.3bn 8-year loan with a 2-year grace period fr

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