Raízen Energia approves plan to list shares as group prepares to split

Raízen plans to split its sugar, ethanol and bioenergy business from its fuel distribution business.

Its energy subsidiary has approved seeking a listing on Brazil’s B3 stock exchange, but it will not sell new shares or raise money through the move.

If further conditions are met, current Raízen shareholders could receive shares in the subsidiary.

The split is part of a plan to restructure about R$61.4 billion in debt.