# Raízen debt restructuring plan approved > Live situation record from CLSTR: https://clstr.news/situations/razen-debt-restructuring-plan > Updated: 2026-07-29T22:39:55.000Z. Sources: 29. Developments: 12. On 30 July 2026 the São Paulo 3ª Vara de Falências e Recuperações Judiciais homologated Raízen’s extrajudicial recovery plan, confirming the restructuring of about R$61.4 billion of unsecured debt. The decision was backed by 81.6 % of unsecured creditors and faced no objections. Roughly 45 % of the restructured credits will be converted into equity units at R$0.50 each, with the remaining 55 % refinanced through new debt instruments, and a capital increase of R$3.5‑R$4 billion to be funded by Shell Brasil and potentially Aguassanta. The plan also mandates the segregation of the fuel‑distribution and bio‑energy businesses and a programme of non‑strategic asset divestments. Raízen said the court approval strengthens stakeholder confidence and provides a sustainable capital structure as it proceeds with corporate reorganisation and asset sales. ## Claims - The São Paulo Court homologated Raízen's extrajudicial recovery plan on 30 July. (corroborated by 14 sources) - The plan covers approximately R$ 61.4 billion of financial debt. (corroborated by 14 sources) - 81.6 % of Raízen's unsecured creditors approved the plan. (corroborated by 14 sources) - No creditor lodged an objection to the plan. (corroborated by 14 sources) - The plan includes a capital increase of R$ 3.5 bn to R$ 4 bn funded by Shell Brasil and Aguassanta Participações. (corroborated by 14 sources) - Approximately 45 % of the restructured credits will be converted into equity units at R$ 0.50 per unit. (corroborated by 14 sources) - The remaining 55 % of the credits will be refinanced via new debt instruments. (corroborated by 14 sources) - The restructuring includes segregation of Raízen's fuel distribution and bio‑energy businesses and a program of asset divestments. (corroborated by 14 sources) ## Timeline ### 2026-07-29: Raízen's R$61.4 bn debt restructuring plan approved by São Paulo court São Paulo court approved Raízen's R$61.4 bn debt restructuring on 30 July, with 81.6 % creditor support, a R$3.5‑4 bn capital boost from Shell and Aguassanta, 45 % credit‑to‑equity conversion, and plans to spin 14 sources. https://clstr.news/cluster/belagrcola-files-separate-extrajudicial-recovery-plans-for-bela-sementes-and-landco ### 2026-07-21: Raízen sells Caarapó sugar mill to Adecoagro for $760 million Raízen sold its Caarapó sugar mill to Adecoagro for R$ 760 million, aiming to reduce debt amid a recovery plan; S&P rates Adecoagro BB‑ with stable outlook, expecting modest leverage rise. 2 sources. https://clstr.news/cluster/razen-sells-caarap-sugar-mill-to-adecoagro-for-760-million ### 2026-06-30: Raízen reports R$27 billion loss as it moves toward extrajudicial recovery approval Raízen posted a R$27.1 billion loss for FY 2025/26, citing asset impairments, while fuel‑distribution EBITDA rose 35%; the CEO says the company is confident ahead of a September approval of its extrajudicial re 3 sources. https://clstr.news/cluster/razen-reports-r27-billion-loss-as-it-moves-toward-extrajudicial-recovery-approval ### 2026-06-22: Raízen's debt restructuring advances with 45% conversion and $3.5bn Shell investment Raízen’s recovery is on track: 45% of its R$ 65 bn debt will be converted to equity, Shell adds R$ 3.5 bn, and the firm will split its sugar‑ethanol and fuel‑distribution units. 2 sources. https://clstr.news/cluster/razens-debt-restructuring-advances-with-45-conversion-and-35bn-shell-investment ### 2026-06-18: Raízen debt restructuring draws bids from IG4 and four asset managers Raízen’s R$ 65 bn debt plan swaps 45% of liabilities for shares, giving creditors 80% ownership. IG4 and four asset managers vie to purchase the debt and gain equity control ahead of the March 2027 deadline. 5 sources. https://clstr.news/cluster/razen-debt-restructuring-draws-bids-from-ig4-and-four-asset-managers ### 2026-06-16: IG4 Capital seeks controlling stake in Brazil's Raízen through debt purchase IG4 Capital aims to buy a majority of Raízen's debt to secure control after a R$65 bn restructuring, after recently taking over Braskem. 3 sources. https://clstr.news/cluster/ig4-capital-seeks-controlling-stake-in-brazils-razen-through-debt-purchase ### 2026-06-06: Raízen secures extrajudicial debt restructuring for R$64.7 bn Raízen filed an extrajudicial recovery plan in São Paulo, securing 75.45% creditor support for R$64.7 bn of debt and outlining equity swaps, a R$3.5 bn Shell capital boost and further refinancing. 3 sources. https://clstr.news/cluster/razen-secures-extrajudicial-debt-restructuring-for-r647-bn ### 2026-06-05: Raízen secures 75% creditor backing for historic R$65bn recovery plan Raízen secured over 75% creditor approval for its R$64‑65 bn extrajudicial recovery, converting 45% of debt to equity, backed by a R$3.5 bn Shell injection and a planned split into two units by 2027. 8 sources. https://clstr.news/cluster/razen-secures-creditor-support-for-brazils-largest-extrajudicial-debt-recovery ### 2026-06-04: Raízen sells Argentine downstream assets to Mercuria for $1.42 bn Raízen is selling its Argentine downstream fuel assets to Mercuria for $1.42 bn (≈R$7.2 bn); proceeds will bolster its capital base and the deal awaits regulatory clearance. 2 sources. https://clstr.news/cluster/razen-sells-argentine-downstream-assets-to-mercuria-for-142-bn ### 2026-06-02: Raízen moves to renegotiate $25 bn tax disputes while preparing $7 bn Argentine asset sale Raízen seeks to renegotiate R$ 25 bn in tax disputes as part of its R$ 65 bn debt restructuring and is near a R$ 7 bn sale of its Argentine assets to raise cash. 2 sources. https://clstr.news/cluster/razen-moves-to-renegotiate-25-bn-tax-disputes-while-preparing-7-bn-argentine-asset-sale ### 2026-05-26: Raízen's recovery plan moves ahead as Ometto's R$500 M capital push fades Raízen seeks a June restructuring plan as Ometto's R$500 M funding may fall short, prompting Cosan’s stake dilution and a R$3.5 B Shell injection. 3 sources. https://clstr.news/cluster/razens-recovery-plan-moves-ahead-as-omettos-r500-m-capital-push-fades ### 2026-05-21: Raízen seeks debt restructuring approval without foreign bondholder support Raízen aims to approve a debt restructuring by June 8 using support from Brazilian banks and bondholders, despite offshore bondholders’ opposition; the plan would convert 45% of debt to equity, giving creditors 2 sources. https://clstr.news/cluster/razen-seeks-debt-restructuring-approval-without-foreign-bondholder-support --- Cite as: Raízen debt restructuring plan approved. CLSTR, https://clstr.news/situations/razen-debt-restructuring-plan