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STXNEWS LATAM-Raizen buys stake in Brazil electronic payment provider
August 5, 2013 / 10:39 PM / 4 years ago

STXNEWS LATAM-Raizen buys stake in Brazil electronic payment provider

Raizen Energia SA bought a 10 percent stake in STP, owner of the electronic payment system Sem Parar (non-stop in Portuguese), to allow the tool to be used at Shell gas stations in Brazil, according to a securities filing on Monday.

Raizen, the world's largest sugar and ethanol producer, is a joint venture between Brazil's Cosan SA and Royal Dutch Shell Plc. It paid 250 million reais ($108.23 million) for the stake, which needs approval from anti-trust regulators.

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