IG4 seeks to buy out Raizen’s debt in takeover deal
In Brazil, Bloomberg reports that IG4, recently out of an agreement to take control of the petrochemical giant Braskem, has offered to buy Raízen debt amid a proposed restructuring plan that will convert 45 percent of its debt by about 80 percent of the capital, according to people familiar with the issue who spoke to Bloomberg News.
The idea is to grab enough debt to give IG4 a share of just over 50 percent once the conversion is completed, said the people, who asked not to be identified for discussing private information.
Category: Fuels
