November 4, 2016 / 8:52 PM / a year ago

Brazil's Cosan concludes Radar shares sale to TIAA

SAO PAULO, Nov 4 (Reuters) - Brazilian conglomerate Cosan SA Indústria e Comércio said on Friday it concluded a deal to sell shares of its subsidiary Radar Propriedades Agrícolas SA to an investment vehicle owned by U.S.-based pension fund Teachers Insurance and Annuity Association of America (TIAA).

Cosan said TIAA, through its local investment arm Mansilla Participações Ltda, made a payment of 1.04 billion reais ($321 million) on Friday, as agreed in September. The number of shares of the unlisted subsidiary was not disclosed. (Reporting by Marcelo Teixeira; Editing by Jonathan Oatis)

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