Original title: Raizen Owners Said in Talks to Sell Stake to Mitsubishi
Brazil sugar and ethanol producer Raizen SA’s controlling shareholders are in talks to sell a stake to Mitsubishi Corp. as part of a plan to raise capital, according to people familiar to the matter. The conversations are in an early stage, and Mitsubishi is still mulling whether to make a proposal for shares of Raizen, the people said, asking not to be identified because negotiations are private. Raizen is a joint venture between Brazilian holding company Cosan SA and London-based oil producer Shell PLC. Cosan is aiming for a capital injection of 10 billion reais ($1.8 billion) for Raizen to reduce its soaring debt, the people said.