Tereos Plots Capital Raise

Brazilian sugar cane miller Tereos Internacional plans to raise up to BRL369m ($179m) from a private share placement, it says. The company will issue a total of 142m shares to current holders at BRL2.60 per share. The firm controlled by France’s Tereos Group plans to use the proceeds to finance its expansion program. Tereos pulled the plug on a public follow-on of up to BRL600m last year when the markets became too volatile.