Cosan To Tap International Markets

Brazilian sugar-cane processor and ethanol producer Cosan is likely to issue ADRs on the New York Stock Exchange within the next 18-24 months, says the company. Surging international oil prices have boosted the demand for ethanol, the sugar-based alternative energy source widely used in Brazil, and has encouraged the company to push forward with expansion plans. Cosan raised $450 million at the beginning of the year via the sale of perpetual bonds.