Brazil's Raizen down as Petrobras says no planned investments

Cosan

19/08/2025 15:12

Aug 19 (Reuters) - ** Shares in Brazilian sugarcane processor Raizen RAIZ4.SA fall after state-run Petrobras PETR4.SA said it has no planned investments in ethanol production or distribution with Raizen

** Raizen shares had soared on Monday following a weekend report from newspaper O Globo saying Petrobras was exploring investment opportunities with the sugar and ethanol producer

** Shares in Raizen are down more than 7% in Sao Paulo morning trading, after a 10.6% jump the previous day

** The company is a joint venture between Cosan CSAN3.SA and Shell SHEL.L

** Raizen is the worst performer on Brazil's Bovespa stock index .BVSP, which is down 1.5%

** Year-to-date, Raizen's shares slip more than 50%

 (Reporting by Fernando Cardoso; Editing by Gabriel Araujo)

 ((fernando.cardoso@thomsonreuters.com;))