Biosev can sell another sugar mill in Brazil
Biosev SA, the Brazilian sugar and ethanol producer controlled by global commodities trader Louis Dreyfus, is in talks to sell more assets in the country as it seeks to cut debt.
It is reported by Reuters.
Biosev, which announced the sale of a sugar and ethanol mill a month ago, hired Datagro Financial, the financial services division of Sao Paulo-based consultancy Datagro, and the investment banking unit of Banco Santander Brasil SA to assist in the process to sell other mills, the sources said.
Shares of Biosev surged 37,2 percent to close at 4,54 reais on Monday, their highest price in seven months. Traded volume was more than 20 times larger than the daily average during last week’s sessions at Sao Paulo exchange B3.