October 29, 2019 / 1:11 PM / 24 days ago

Brazil antitrust agency clears Raizen Energia purchase of Cosan Biomassa

BRASILIA, Oct 29 (Reuters) - Brazil's antitrust agency Cade on Tuesday gave utility Raizen Energia SA, a joint venture between energy and logistics group Cosan and oil giant Shell, the go-ahead to buy 81.5% of Cosan Biomassa.

According to Cade's ruling, the deal was approved without restrictions because it will not impinge on competition.

Cosan Biomassa, previously owned by Cosan, produces and sells sugarcane bagasse and straw pellets, serving overseas customers who use its products "on an experimental basis," according to information provided by the company to Cade. (Reporting by Luciano Costa; Writing by Jamie McGeever; Editing by Mark Potter)

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