Raizen approves recovery plan

Fri, Oct 30Companies

What happenedRaizen's shareholders approved a recovery plan to address its R$ 65 billion debt, the largest in Brazil's history, by dividing the company into two entities.
WhyThe company's crisis occurred due to risky bets, poor harvests, and low commodity prices.
Market impactA weaker company may lead to increased costs for investors and potentially impact the overall market, as a large debt can affect the company's ability to operate efficiently.
What to watchInvestors will be watching the implementation of the plan, which includes the segregation of the sugar and ethanol unit and the restructuring of R$ 61.4 billion in debts.

Ibovespa that day −0.75%Source: g1 + 2 more outlets

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