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February 18, 2008 |
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COSAN SA: Completes Acquisition of Usina BenAlcool S.A. Cosan S.A. Industria e Comercio disclosed that the negotiations to acquire 100% of Usina Benalcool have ended. The total value of the acquisition is BRL106.9 million, which will be paid mainly with the company's cash resources. Benalcool's main asset is its sugar and ethanol plant, with an annual crushing capacity of 1.3 million tonnes of sugarcane. The existing net debt, evaluated on Jan. 31, 2008, is BRL34.0 million. On the same date, Benalcool's marketable securities and cash equivalents totaled BRL6.5 million. Usina Benalcool is located in the Aracatuba region, where Cosan already owns four other production units. Through the acquisition Cosan has strengthened its presence in this producing region. About Cosan Headquartered in Sao Paulo, Brazil, Cosan S.A. Industria e Comercio(Bovespa: CSAN3) -- http://www.cosan.com.br/ -- is one of the largest producers of sugar and ethanol in the world. With a crushing capacity of around 40 million tonnes of sugar cane, the company holds over 8% of the local market. * * * As of February 2007, Cosan carries Moody's Ba2 global local currency and foreign currency ratings and Standard and Poor's BB corporate credit rating. |
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