Cosan And Nova America To Merge Santos Port Sugar Operations

April 2008 | M&A News Alert

One of the world's largest growers and processors of sugar and ethanol, Cosan Group, announced on April 11 that it has agreed to merge its sugar operations with Nova America at Santos Port in São Paulo state, Brazil. The two companies' assets will form a new company called Rumo Logisitica, which will be able to store 435,000 tonnes and ship 8.5mn tonnes of commodities per year. As well, it was agreed that Cosan will purchase 49% of Teacu sugar port in Santos for US$70.6mn from Rezende Barbosa, Nova America's holding company.

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