Cosan Postpones Share Swap

Cosan has asked the CVM to approve postponement of a planned share exchange to May 12 due to poor market conditions. The purpose of the transaction is to have holders of Cosan SA, the Bovespa-listed entity that went public in 2005, migrate to Cosan Ltd., the newer NYSE-listed entity whose voting stock is largely held by the company’s founder Rubens Ometto Mello. Investors have until May 2 to choose to adhere or not to the exchange offer. Cosan says in a statement that its shareholders requested a postponement due to volatility in the markets.