Raízen shareholders approve business split under restructuring plan
SHEL•Raízen shareholders approved measures enabling a capital increase of up to R$39.8 billion and a capital reduction of up to R$35 billion. The plan would separate its energy business from fuel distribution and lubricants.
1. Restructuring approved
Shareholders approved measures enabling a capital increase of up to R$39.8 billion, including conversion of creditor claims into equity. Shell would contribute up to R$3.5 billion, while Aguassanta could invest R$500 million if it elects to participate.
2. Planned separation
Shareholders also authorized a capital reduction of up to R$35 billion through distribution of Raízen Energia securities. The planned split would create two independent listed companies: Raízen Energia, covering ethanol, sugar and bioenergy, and Raízen, retaining Shell-branded fuel distribution and lubricants.
3. Fuel business process
Preparations will begin for a competitive process evaluating potential investment in fuel distribution, potentially through a secondary public offering.
