Shell committed to backstop Raizen with $668 million investment, Brazil CEO says

Cosan

03/03/2026 13:00

By Fabio Teixeira and Marta Nogueira

RIO DE JANEIRO, March 3 (Reuters) - London listed oil company Shell SHEL.L is committed to investing 3.5 billion reais ($667.84 million) in troubled sugar and ethanol maker Raizen RAIZ4.SA - which it controls in a joint venture with Brazilian conglomerate Cosan CSAN3.SA - the energy company's Brazil CEO said on Tuesday.

Raizen has reported a string of losses and soaring net debt in recent quarters amid costly investments and poor weather negatively impacting crops, prompting the company to issue a warning in February about its ability to continue operating.

($1 = 5.2408 reais)

 (Reporting by Fabio Teixeira and Marta Nogueira; Writing by Oliver Griffin; Editing by Gabriel Araujo)

 ((oliver.griffin@thomsonreuters.com; +55 11 95361-2170))