Itajobi Group renegotiating $730M of debt to avoid Chapter 11
The company established a request for business mediation before the Judicial Center for Conflict Resolution and Citizenship (Cejusc) of São José do Rio Preto (SP). The group also filed a precautionary measure to support negotiations with creditors.
Cejusc is the body of the judiciary created by the National Council of Justice (CNJ) to stimulate agreements through mediation and conciliation, avoiding or reducing judicial disputes.
Therefore, the request does not mean that the Itajobi group has renegotiated its debt and neither that the company is protected from a judicial recovery. It just means that there is a formal ongoing mediation procedure, accompanied by the judiciary, to seek a negotiated solution.
According to the company’s statement, a bad situation reached mills of all sizes: the cost of the ton of cane reached a record level in the 2025/26 harvest, the total sugar content recoverable (ATR) fell, white crystal sugar was again traded below R$ 100 per bag of 50 kg – a level not seen since 2020 – and corn ethanol already accounts for about a third of the national fuel ethanol market.
Category: Fuels
