Economy
Raízen approves company split and plan with up to R$ 39.8 billion injection
The plan provides for splitting the company into two independent publicly traded firms and converting debt into equity to overcome the financial crisis.
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The essentials of this story
- What happened
- Raízen approved in a meeting the out-of-court recovery plan, the split into two independent companies, and a capital injection of up to R$ 39.8 billion to resolve a debt of R$ 65 billion.
- Who is affected
- Shareholders, creditors, and sugarcane producers linked to Raízen, as well as investors and customers of the fuel and bioenergy network.
- What changes
- The company is split into two stock-market-listed corporations—one focused on energy and sugar and the other on fuel distribution—with debt converted into shares and defined deadlines for new capital injections and purchase preferences.
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