Cosan CEO: Raízen Restructuring Plan Progressing, New Developments Expected Soon

Cosan Group CEO Marcelo Martins announced that new developments are anticipated in the coming days regarding a plan for Raízen, its indebted sugar, ethanol, and fuel distribution joint venture with Shell. During a conference call on Tuesday, Martins stated that Cosan believes the ongoing discussions about Raízen could lead to a satisfactory solution for the market. Martins emphasized a "very strong engagement" with creditors, Shell, and businessman Rubens Ometto, a member of Cosan's controlling group. Ometto has also expressed his intention to contribute capital to the process through Aguassanta. Martins explained, "All of this has resulted in a structured conversation with creditors, and we believe today that this should lead to progress so that we can find a satisfactory solution for the market that definitively resolves Raízen's problem." Despite Cosan reporting a net loss of 5.8 billion Brazilian Reais in the fourth quarter, representing a 38% reduction from the nearly 9.3 billion Reais loss in the last three months of 2024, the CEO expressed confidence in the possibility of a definitive solution for Raízen. He added that the resulting capital structure from this definitive solution must be appropriate for the company's diverse businesses. "This is something that is being discussed because these are very diverse businesses..."