THE Cosan (CSAN3) announced on Thursday night (14) that it has extended the negotiations between its subsidiary Atlântico Participações and Bergnol Holding Limited by two years.
Both companies signed a memorandum of understanding in May 2021 to form a joint venture (joint venture) to explore iron orecall JV Mining.
The change suggests that a final agreement would need to be in place by May 2023, although the document does not say what the new deadline is, nor what the original deadline was.
In the minutes, Cosan’s board of directors says that the conditions for closing the transaction adjust the percentage of interest that each party will hold in the JV. However, the document does not detail the shareholdings.
Cosan points out that the governance initially agreed will be maintained, which has preemptive rights and other rights more than are customary for this type of operation.
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Source: Moneytimes
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