September 11, 2020 |
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
Shell-Cosan ethanol JV could acquire the Louis Dreyfus-owned rival in an all-share deal