Mercuria Sets $1.4 Billion Deal for Raizen Argentina Fuel Assets


Raizen, a biofuels joint venture of Shell Plc and Cosan SA, has garnered informal support from a majority of its creditors for a final restructuring plan under an out-of-court debt rework, people familiar with the matter said on Wednesday. Asset sales, including the Argentine unit, is part of the plan, the company said. Raizen has a 65 billion-real ($12.9 billion) debt load, a consequence of some failed bets in ethanol and aviation fuel, plus high interest rates and weaker-than-expected harvests. 



Source link

  • Related Posts

    Federal government announces mining workforce alliance to build ‘talent pipelines’

    HALIFAX — The federal government has announced a new industry-led alliance aimed at growing the skilled workforce for Canada’s mining industry, which is struggling to fill key jobs. HALIFAX —…

    Another day passes with Auburn student still missing in Japan, parents say

    Japanese police trudged through waist-high mud on Thursday in another unsuccessful day searching for a missing Auburn University student, though his parents said they remain optimistic about their son’s potential…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Federal government announces mining workforce alliance to build ‘talent pipelines’

    Federal government announces mining workforce alliance to build ‘talent pipelines’

    Muslim group seeks action on Islamophobia 5 years after Ontario family murdered

    Muslim group seeks action on Islamophobia 5 years after Ontario family murdered

    Belkin Made A Charging Grip For The Switch 2

    Belkin Made A Charging Grip For The Switch 2

    Emma Myers Talks A Good Girl’s Guide to Murder Season 2

    Emma Myers Talks A Good Girl’s Guide to Murder Season 2

    Another day passes with Auburn student still missing in Japan, parents say

    Another day passes with Auburn student still missing in Japan, parents say

    Flesh-eating screwworm found in Texas, sparking fears for U.S. cattle

    Flesh-eating screwworm found in Texas, sparking fears for U.S. cattle