Cosan

Cosan S. A.

Type	Public
Traded as	B3: CSAN3 NYSE: CSAN (ADS) Ibovespa Component
ISIN	BRCSANACNOR6
Industry	Energy Sugar
Founded	1936; 88 years ago (1936)
Headquarters	São Paulo , Brazil
Key people	Luis Henrique Guimarães (CEO)
Revenue	R$ 3.972 billion[1] (2019) R$ 2.607 billion (2018)
Net income	R$ 2.483 billion[1] (2019) R$ 1.903 billion (2018)
Number of employees	45,000
Subsidiaries	Raízen Rumo Comgás Moove Cosan Biomassa
Website	www.cosan.com.br

Cosan is a public-listed company, a Brazil ian conglomerate producer of bioethanol, sugar and energy. The company operates in Brazil, Argentina , Uruguay, Paraguay, Bolivia. They also operate in the United Kingdom under the brand name Moove, manufacturing and supplying Mobil Lubricants, Greases, Cutting Fluids, Coolants and Aerosols.^[2]

History

Cosan began in 1936 in Piracicaba, São Paulo, with the founding of its first factory for milling of sugar cane.^[3] From the second half of the 1980s, it quickly expanded operations through the acquisition of several factories in the State of São Paulo. Cosan cultivates, collects and processes sugar cane, the main raw material used in the production of sugar and ethanol. Its 23 plantings occupy almost 600,000 hectares of land and employ 45,000 people. In 1989, the group was the largest producer of sugar and alcohol in the world, with 22 companies and the crushing of 10.5 million tons of sugarcane, 5% of the Brazilian total.^[4] In the food sector, the company owns 11.5% of shares of Camil Alimentos, that merged with Cosan Alimentos in 2012.

Purchases and mergers

On April 24, 2008, Cosan announced the purchase of the portfolio of downstream fuel distribution plants from Esso in Brazil.

On March 13, 2009, the Group confirmed the incorporation of NovAmérica Agroenergia through a stock exchange operation between the Cosan and holding Rezende Barbosa, controller of NovAmérica.^[5][6] With the acquisition, the group Cosan reinforces its position as the largest producer of sugar and alcohol in the world and will have an annual processing capacity of around 56 million tonnes of sugar cane, 10% of the Brazilian market, managing 23 plants.

On 3 May 2012, Cosan signed a memorandum of understanding acquiring the BG Group's 60.1% stake in Comgás.^[7] The deal was completed in November 2012.^[8]

In 2021, Compass Gás e Energia, a company of the Cosan group, announced the purchase of Gaspetro (currently Commit Gás)^[9] from Petrobras.^[10] The purchase was completed in July 2022 for R$2.097 billion.^[11][12]

In the same year, Compass won the auction for the privatization of the Gas Company of the State of Rio Grande do Sul (Sulgás).^[13] The purchase was completed in January 2022 for a minimum amount of R$927.7 million.^[14]

Joint-Venture with Royal Dutch Shell

Cosan's Costa Pinto sugar cane mill and ethanol distillery plant at Piracicaba, São Paulo.

On February 1, 2010, Cosan and Royal Dutch Shell announced the creation of a joint venture Raízen that merged their operations of sugar, ethanol and the distribution and marketing of fuels in Brazil. It formed the third-largest distribution company in Brazil and the world's largest bioenergy operation.^[15]

In June 2021, Raízen officially registered for an IPO with Brazilian securities regulator CVM.^[16] In August, the company raised US$1.3 billion, making it Latin America’s biggest IPO.^[17]

References

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