Raízen S.A., a subsidiary of Cosan, announced the indefinite shutdown of its Santa Elisa mill, one of its largest plants in Brazil. This operational adjustment is part of Raízen's broader strategy to manage its substantial debt load.
To further address its financial leverage, Raízen entered into agreements with six sugar companies for the sale of 3.5 million metric tons of sugarcane. This transaction is expected to generate 1.045 billion reais, equivalent to approximately $188.18 million.
The funds generated from the sugarcane sale are specifically earmarked to reduce Raízen's debt, which currently stands at over 30 billion reais. This move underscores the company's aggressive efforts to improve its financial health and capital structure.
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