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Financial News: COSAN: Raizen, Sao Martinho To Buy Usina Furlan's

COSAN: Raizen, Sao Martinho To Buy Usina Furlan's Assets For R$ 118 Million

07/08/2018 - 16:23:00 (RTTNews)

(RTTNews) - Raizen and Sao Martinho agreed to buy the biological assets of the Furlan Sugar Plant and to lease the land from the plant and Agro Pecuria Furlan for R$ 118 million (US$ 30.11 million. The agreement involves the Santa Barbara D'Oeste plant, in the Sao Paulo state countryside.

After the completion of the business, Ra?zen should independently take two thirds and S?o Martinho, a third of the agricultural and supply contracts, totaling around 1 million tons of sugarcane in the region.

The conclusion of the business also depends on approvals of the Administrative Council of Economic Defense (Cade), Brazil's antitrust regulator.

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