SAO PAULO, Sept. 30, 2019 /PRNewswire/ -- Cosan Limited
(NYSE: CZZ) announced today the final results of its tender offer
to purchase its Class A common shares, or the shares, at (i) prices
specified by the tendering shareholders of not greater than
U.S.$15.50 nor less than
U.S.$13.05 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
September 25, 2019.
Based on the final count by Computershare Trust Company, N.A.,
the Depositary for the tender offer (the "Depositary"), a total of
10,244,806 Class A common shares of Cosan were properly tendered
and not properly withdrawn at the final cash purchase price of
U.S.$15.50 per share.
Accordingly, Cosan acquired 10,244,806 shares at a purchase
price of U.S.$15.50 per share, for a
total cost of approximately U.S.$158.8
million, excluding fees and other expenses related to the
tender offer. These shares represent 7.55% of the issued and
outstanding Class A common shares of Cosan as of September 27, 2018. The Depositary will promptly
pay for the Class A common shares accepted for purchase.
After giving effect to the purchase of the Class A common
shares, Cosan will have 125,477,259 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 August
28, 2019 and as amended on September
12, 2019 and September 26,
2019.
About Cosan
Cosan Limited (NYSE: CZZ) 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 reference 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
