Raízen, Biosev confirm merger talks

Raízen, Biosev confirm merger talks

Corporate & Sovereign Strategy M&A Latin America

Brazilian sugar and ethanol companies Raízen and Biosev both confirmed Wednesday that they have started talks on a possible merger after a report from Bloomberg News earlier in the week. Raízen, a joint venture between Shell and Cosan, and Biosev, owned by commodities trader Louis Dreyfus Company, said in separate securities filing that neither side had made a binding offer, while Biosev added it was also in talks with "certain creditor banks" to restructure its debt. "Biosev is focused on its o

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