CSAN - Shell-Cosan JV to seek $13.5B IPO valuation - Bloomberg
The Raizen joint venture between Royal Dutch Shell ([[RDS.A]], [[RDS.B]]) and Cosan (CSAN) will seek a valuation of ~70B Brazilian reais ($13.5B) in its upcoming IPO, Bloomberg reports.Raizen, the world's largest sugar producer and Brazil's fourth largest company by revenue, plans to sell a ~10% stake in the IPO to raise ~6B reais, according to the report.The JV reportedly could launch the offer in the coming days, with pricing expected in late July or early August.Shell "should generate impressive cash flow in the medium term while being able to revamp its portfolio well for the long term," The Value Portfolio writes in a bullish analysis posted on Seeking Alpha.
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Shell-Cosan JV to seek $13.5B IPO valuation - Bloomberg