Reported 3 days ago
Raizen SA, Brazil's largest sugar and ethanol producer, is exploring asset sales and halting new plant projects to reduce its debt following a significant rise in borrowing costs. CEO Nelson Gomes announced a major portfolio revision, emphasizing a focus on core businesses amid a challenging financial landscape, including a recent fourth-quarter net loss of 2.6 billion reais. The company will limit investments to two ongoing ethanol plant constructions and is reining in its trading arm.
Source: YAHOO