August 15, 2013
Brazil’s Cosan has pulled out of a deal agreed last year to buy a 5.7% stak
Brazil’s Cosan has pulled out of a deal agreed last year to buy a 5.7% stake in logistics company ALL America Latina Logistica, it says. The agreement, which called for Cosan to buy up to BRL897m ($391m) in ALL shares, depended on conditions that Cosan claims have not yet been met. At the time of the deal, Cosan was seen paying a premium to enter in to ALL’s controlling group, building on an existing relationship between Cosan and ALL in the Rumo transportation venture.