June 14, 2017 / 3:40 PM / 2 months ago

Raízen set to win auction for two sugar mills in Brazil - creditor

SAO PAULO, June 14 (Reuters) - Brazil's Raízen Energia SA, the world's largest sugar maker, is set to win on Friday a judicial auction of two sugar mills owned by Tonon Bioenergia SA, having made the highest bid, a manager at a group of cane producers which is a strategic creditor of Tonon told Reuters on Wednesday.

Fabiana Valencise Olmedo said the 823-million reais ($250 million) bid presented by Raízen, a joint venture between Cosan SA Industria e Comercio and Royal Dutch Shell , was almost double the bid presented by the only other competitor in the auction. (Reporting by Marcelo Teixeira; Editing by Phil Berlowitz)

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