Share | Email | Print | A A A
By Carlos Caminada and Paulo Winterstein
April 7 (Bloomberg) -- Cosan SA Industria & Comercio, the world’s biggest sugar-cane processor, rose to a six- month high in Sao Paulo after a media report it’s seeking a partnership with Brazilian state-controlled oil company Petroleo Brasileiro SA.
Cosan rose 5.7 percent to 13.57 reais, the highest since Oct. 3 at 11:58 a.m. New York time, after gaining as much as 7.2 percent earlier on the Sao Paulo stock exchange.
Billionaire Cosan controlling shareholder Rubens Ometto is seeking funds from Petrobras and the National Bank for Economic and Social Development to boost the company’s assets, Rio de Janeiro-based newsletter Relatorio Reservado said today, without saying where it got the information. Petrobras may be looking for a partnership with Cosan to export ethanol to Japan, Global Equity Administradora de Recursos’ Mariana Goncalves said.
“The news floating around is that Petrobras is interested in creating a private company that would sell ethanol to Japanese markets,” Goncalves, an equity analyst at Global in Rio de Janeiro, said in a telephone interview. “That company would be managed by Cosan.”
An outside spokesman for Cosan declined to comment when called by Bloomberg News.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM