Cosan (CSAN) is considering selling assets, including a $2.2 billion stake in Vale (VALE), to reduce debt, Bloomberg reported Friday, citing people familiar with the matter.
Cosan told investors all options are under consideration, including the sale of an Argentine gasoline distributor in a joint venture with Shell, the report said.
"Cosan continually monitors the best deleveraging opportunities and remains committed to optimizing capital allocation, especially in a scenario of high interest rates and a challenging macroeconomic environment," the company said, according to Bloomberg.
Cosan didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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