Cosan raises approximately R$10.5 billion through two equity offerings

Davis Polk advised Cosan in connection with a capitalization transaction comprising two equity offerings of 1,812,500,000 common shares (the first offering) and 287,500,000 common shares (the second offering), for an aggregate amount of approximately R$10.5 billion (approximately $2 billion). The first offering was anchored by certain anchor investors, including Cosan’s controlling shareholder Holdings Aguassanta, entities affiliated with BTG Pactual Holding and investment vehicles managed by BTG Pactual Gestora de Recursos Ltda. and Perfin Infra Administração de Recursos Ltda. These anchor investors waived any priority rights to the second offering, which was placed entirely with professional investors. The common shares trade on the São Paulo Stock Exchange. The securities sold in the international offerings were placed relying on Section 4(a)(2) of the U.S. Securities Act and Regulation S. Cosan is a leading sugar and ethanol producer and sugarcane grower, a natural gas distributor in Brazil, an operator of large bulk port terminals, a producer of energy from sugarcane, a player in the Brazilian lubricants market and one of the largest private landowners in Brazil. BTG Pactual is the largest investment bank in Latin America, offering a wide range of financial products and services. Perfin Infra is a specialized infrastructure investment manager with projects across energy, highways, sanitation and climate solutions. Davis Polk represented client Cosan with a team composed by: partner Manuel Garciadiaz (corporate), counsel Lourenço Lopes-Sabino (corporate), associate Luis Felipe Sousa (corporate); partner Kara L. Mungovan (tax), associates Yueyu Yang, Summer Elbardissy and Alex (Ang) Gao (tax); counsel Sarah E. Kim and associates Uche I. Polanco and Rosina Curren (1940 Act advice). Members of the Davis Polk team were based in the São Paulo, New York and London offices.

Cosan raises approximately R$10.5 billion through two equity offerings

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads