July 6, 2018 / 11:26 AM / 5 months ago

Brazil's Raízen eyes new mill, to assume $51 mln of debt-paper

SAO PAULO, July 6 (Reuters) - Raízen Energia SA, a renewables fuel joint venture of Cosan SA and Royal Dutch Shell, is in talks to buy a new Brazilian sugarcane crushing mill, newspaper Valor Econômico reported on Friday, citing three unnamed sources.

The terms of the potential deal, which is not yet finalized, could include assumption of 200 million reais ($51 million) of the mill’s debt by Raízen, Valor said citing two of the sources.

The Usina Rio Pardo unit, located in the interior of São Paulo state, belongs to privately owned group Zogbi, which confirmed discussions with Raízen to divest the asset but not the terms of the transaction.

Raízen, Brazil’s biggest producer of ethanol from sugarcane and the country’s largest individual sugar exporter, denied being engaged in talks to buy the mill, Valor reported.

Representatives of Zogbi group and Raízen did not have an immediate comment on the report.

$1 = 3.9324 reais Reporting by Ana Mano; Editing by Bernadette Baum

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