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CZZ Cosan Limiited

20.29
0.00 (0.00%)
After Hours
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Cosan Limiited NYSE:CZZ NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 20.29 0 01:00:00

BG Group Sells Entire 60.1% Stake In Comgas For $1.7 Billion

29/05/2012 7:47am

Dow Jones News


Cosan Limiited (NYSE:CZZ)
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Oil and gas group BG GROUP PLC (BG.LN) said Tuesday that it has signed a definitive binding agreement with Brazil's Cosan S.A. Industria e Comercio for the sale of the BG's entire 60.1% holding in gas distributor Comgas for BRR3.4 billion in cash, or $1.7 billion at current exchange rates.

MAIN FACTS:

-Transaction will reduce debt on the BG Group balance sheet by some $1.1 billion.

-The transaction, which is subject to regulatory approval, is likely to complete by the end of 2012.

-Further, BG Group and Cosan have agreed, when the transaction is completed, to co-operate on evaluating and developing gas supply options in Brazil.

-BG shares closed Monday at 1,263 pence valuing the company at GBP42.9 billion.

-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; rory.gallivan@dowjones.com

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