Raízen's debt restructuring advances with 45% conversion and $3.5bn Shell investment

Rubens Ometto, controlling shareholder of Cosan, said the extrajudicial recovery of Raízen is progressing well, describing the process as "está indo muito bem." The Brazilian sugar, ethanol and fuel‑distribution company is tackling roughly R$ 65 billion in debt. An agreement with creditors covering about 80 % of liabilities converts 45 % of the debt into equity, while the remaining 55 % will be refinanced through new instruments. Shell will inject R$ 3.5 billion, and Ometto has the option to invest an additional R$ 500 million directly. The restructuring plan also includes separating Raízen’s sugar and ethanol production from its fuel‑distribution business to attract different investor profiles and unlock value.