Brazil's Cosan buys stake in Grupo Radar for $278 mln

 

by Gabriel Araujo  

 

SAO PAULO, Sept 21 (Reuters) - Brazilian energy and logistics company Cosan CSAN3.SA announced late on Monday it has signed a contract to acquire a 47% stake in Grupo Radar from Mansilla Participacoes for about 1.479 billion reais ($278 million).

 

After the acquisition, Cosan would hold a stake of more than 50% in Grupo Radar, the company said in a securities filing.

 

Grupo Radar manages agriculture properties in Brazil and owns 96,000 hectares dedicated to sugarcane, soybean, cotton and corn production in the states of Sao Paulo, Maranhao and Mato Grosso, according to Cosan. The deal is still subject to Brazilian antitrust watchdog Cade's approval.