SÃO PAULO, Dec. 22, 2017
/PRNewswire/ -- Cosan Limited (NYSE: CZZ; B3: CZLT33) (the
"Company") announced today the final results of its tender offer to
purchase up to U.S.$200,000,000 of
its Class A common shares, or the shares, at (i) prices specified
by the tendering shareholders of not greater than U.S.$9.65 nor less than U.S.$9.23 per share or (ii) at the purchase price
determined in accordance with the tender offer. The tender offer
expired at 11:59 p.m., New York City time, on December 19, 2017.
Based on the final count by Computershare Trust Company, N.A.,
the Depositary for the tender offer (the "Depositary"), a total of
22,025,248 Class A common shares of the Company were properly
tendered and not properly withdrawn at or below the final cash
purchase price of U.S.$9.65 per
share.
Accordingly, the Company acquired 22,025,248 shares at a
purchase price of U.S.$9.65 per
share, for a total cost of approximately U.S.$212.5 million, excluding fees and other expenses
related to the tender offer. These shares represent 13.04% of the
issued and outstanding Class A common shares of Cosan as of
December 21, 2017. The shares
accepted for purchase include 1,299,859 additional shares that
Cosan has elected to purchase pursuant to its right to purchase up
to an additional 2% of its outstanding Class A common shares.
The Depositary will promptly pay for the shares accepted for
purchase.
Cosan expects to hold all of the Class A common shares purchased
pursuant to the tender offer in treasury. After giving effect to
the purchase of the Class A common shares, Cosan will have
146,867,137 outstanding Class A common shares.
Cosan funded the share purchases in the tender offer from its
cash and investments.
Cosan's tender offer was made pursuant to an Offer to Purchase
and Letter of Transmittal, each dated November 20, 2017 and as amended December 20, 2017 and December 22, 2017.
About Cosan
Cosan Limited (NYSE: CZZ; B3: CZLT33) is an energy and
infrastructure conglomerate and, when considered together with our
joint venture entities formed with Shell Brazil Holdings B.V.
(i.e., Raízen Combustíveis S.A. and Raízen Energia S.A.,
collectively known as "Raízen"), a Brazilian market leader in fuel
distribution, sugar and ethanol production, natural gas
distribution and railway-based logistics.
All statements contained in this press release, other than
statements of historical fact, are forward-looking statements
including those regarding the tender offer described in this press
release. These statements speak only as of the date of this press
release and are based on our current plans and expectations and
involve risks and uncertainties that could cause actual future
events or results to be different from those described in or
implied by such forward-looking statements, including risks and
uncertainties regarding: changes in financial markets; changes in
economic, political or regulatory conditions or other trends
affecting the ethanol, sugar and logistics industries; and changes
in facts and circumstances and other uncertainties concerning the
completion of the tender offer. Further information about these
matters can be found in our Securities and Exchange Commission
filings. Except as required by applicable law or regulation, we do
not undertake any obligation to update our forward-looking
statements to reflect future events or circumstances.
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SOURCE Cosan Limited