Cosan Mulls IPO of Gas Company as Debt Engulfs Sugar Unit

Brazilian conglomerate Cosan SA said it is mulling a share sale of its gas and energy business unit as the group seeks to reduce its debt burden.

The company is considering an initial public offering by its Compass subsidiary, Cosan said in a note to the market. Cosan had first moved toward an IPO for Compass in 2020, but canceled the effort citing worsening market conditions. At the time, the offering was estimated at 5 billion reais ($964 million).