Oklo stock tumbles as Financial Times scrutinizes valuation
Investing.com -- Cosan SA’s controlling shareholder, Rubens Ometto, is negotiating a loan of up to 750 million reais ($141 million) from Banco Bradesco SA to participate in the company’s capital increase, according to Bloomberg, citing people familiar with the matter.
The loan to Aguassanta Participações SA, the Ometto family office, would help prevent a larger dilution of the family’s stake in the conglomerate. Sources indicated that Cosan shares could be used as collateral for the financing arrangement.
Aguassanta is also exploring alternative financing options for the acquisition, one person said.
The financing discussions highlight the financial challenges Ometto faces to maintain control of his business empire following several unsuccessful investments. Cosan’s acquisition of a minority stake in miner Vale SA quickly deteriorated in value, while its sugar and ethanol subsidiary, Raízen SA, experienced increased debt levels after an ambitious expansion plan failed to deliver expected returns.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.