Shell Pledges 3.5 Billion Reais to Support Raizen as Recapitalization Talks Continue
Shell's Brazil unit has committed to invest 3.5 billion reais ($667.84 million) in Raizen, the sugar and ethanol producer that has posted consecutive losses and rising net debt. The investment is intended as part of a broader recapitalization plan, with Shell expecting another shareholder to provide an equivalent sum. Company leaders say a potentia…