July 3, 2020 / 10:38 PM / a month ago

Brazil's Cosan and logistics unit plan to simplify shareholding structure: filing

SAO PAULO (Reuters) - Brazilian agribusiness conglomerate Cosan SA (CSAN3.SA) and its logistics subsidiary Cosan Logistica SA have approved studies for a proposed shareholding reorganization, the companies said in a securities filing on Friday.

“Such restructuring aims to simplify the Cosan Group’s structure, unifying and consolidating the various free floats of the companies, increasing the liquidity, as well as unlocking value,” they said, adding the operation is expected to be concluded within 180 days.

Cosan also cited plans to prepare its main subsidiaries and jointly controlled ventures for potential initial public offerings.

Reporting by Gabriela Mello; Editing by Chris Reese

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