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| 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 |
From Jun 2019 to Jun 2024
The Brazilian unit of Royal Dutch Shell (RDSA.LN) purchased aviation fuel distribution assets from Brazilian sugar and ethanol group Cosan Industria e Comercio SA (CSAN3.BR), Shell Brasil said Wednesday.
Shell Brasil Ltda. said that it paid 150 million reals ($73.8 million) for the assets, which Cosan acquired in April 2008. The aviation fuel distribution unit was part of Cosan's purchase of Exxon Mobil's (XOM) local distribution unit, Esso Brasileira de Petroleo Ltda., for $1 billion.
"We want to continue growing in" Brazil, said Vasco Dias, president of Shell Brasil, in the statement.
In 2008, Shell Brasil sold 1.6 billion liters of aviation fuel at more than 50 airports across Brazil.
Last year, Cosan reportedly wanted to sell off non-core distribution assets to focus on the south and southeast regions of Brazil to have more synergy with the company's ethanol production.
Cosan is one of the world's largest producers of sugar and ethanol. The company sold 560 million liters of aviation fuel at seven Brazilian airports in 2008.
-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; jeff.fick@dowjones.com
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