Raízen Seeks Court Approval After Securing Creditor Backing for R$65 Billion Restructuring

Overview

• Raízen published fiscal 2025/26 results in late June 2026 showing a R$27.1 billion loss for the safra and net debt of R$58.2 billion, driven largely by large asset revaluations.
• More than 80% of creditors have adhered to the extrajudicial recovery filing, a level the company says meets the legal threshold and clears the path for judicial homologation expected by September 2026.
• Shell has committed R$3.5 billion in capital and the Ometto family vehicle Aguassanta may add about R$500 million as part of the plan to shore up liquidity.
• Management is simplifying the portfolio through roughly R$12 billion of announced desinvestments, with about R$5 billion already in cash and a roughly US$1.2 billion sale of Argentine refining assets to Mercuria set to close in the coming months.
• Investors have punished the stock — shares are down more than 50% this year — while operations show a split performance with distribution margins improving and ethanol, sugar and bioenergy results weakening as the company shrinks milling capacity to boost efficiency.