Eligible companies will include creditor banks of the former Santelisa Vale, which Louis Dreyfus Commodities bought in September. LDC-SEV Bioenergia is now the second largest ethanol producer in Brazil, following Cosan, which last year absorbed the NovAmerica group.
Creditors will own debt in the new company, local news media report. LDC-SEV says the debt issuance is part of the process of debt renegotiation and that the conditions of issuance and payment were "agreed in the refinancing contract, which are confidential for now."
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