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Shell-Cosan Venture Is Said to Seek $13.5 Billion IPO Valuation

  • Raizen’s initial offering expected to raise about $1.2 billion
  • Company is Brazil’s largest sugar and ethanol producer

Raizen SA, a joint venture between Royal Dutch Shell Plc and Brazil conglomerate Cosan SA, is seeking a valuation of about 70 billion reais ($13.5 billion) in its upcoming initial public offering, people familiar with the matter said.

The firm, Brazil’s largest sugar and ethanol producer, plans to sell a stake of about 10% in the IPO to raise roughly 6 billion reais, according to the people, who asked not to be named as the information isn’t public yet. If the size is confirmed, it would be the biggest IPO in Brazil this year, according to data compiled by Bloomberg.