Cosan issues shares in reorganization

Cosan issues shares in reorganization

Corporate & Sovereign Strategy Equity Capital Markets Latin America South America Brazil Europe Netherlands Energy Electricity

Brazilian sugar and ethanol producer Cosan said late Monday that it sold BRL638 million ($113 million) worth of shares under a reorganization plan to streamline operations and facilitate additional capital increases. Cosan issued 31 million common shares for BRL20.58 each to incorporate shareholders of its logistics division Cosan Logística into a new holding company, the company said in a securities filing. "Due to the capital increase... [Cosan Log's] shareholders will have the same rights att

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