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Brazil's Raizen to Buy LDC's Biosev

Biosev SA is the sugar and ethanol unit controlled by Louis Dreyfus

Biosev LOGO

Brazil’s Raizen, the joint venture between Royal Dutch Shell Plc and Cosan SA, has agreed to buy Biosev SA, the sugar and ethanol unit controlled by Louis Dreyfus, in a cash and stock deal, the companies said on Monday.

Raizen will pay 3.6 billion reais ($670.3 million) to Biosev shareholders, who will also receive 3.5% of Raizen preferred shares, plus 1.49% of redeemable shares, it said in a regulatory filing. The company declined to disclose the full purchase price.

The deal boosts Raizen’s position as the world’s largest sugar maker and one of the largest ethanol producers.

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