In Brazil, Cosan announced the preliminary results of its tender offer to purchase its Class A common shares, or the shares, at (i) prices specified by the tendering shareholders of not greater than $15.50 nor less than $13.05 per share or (ii) at the purchase price determined in accordance with the tender offer. The tender offer expired at 11:59 p.m., New York City time, on September 25, 2019.
Based on the preliminary count by Computershare Trust Company, N.A., the Depositary for the tender offer (the “Depositary”), a total of 10,244,806 Class A common shares of Cosan were properly tendered and not properly withdrawn at a price of $15.50 per share, the maximum cash purchase price in the price range specified in the tender offer, including 1,782,583 shares that were tendered through notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer, and in view of the preliminary results, Cosan expects to accept for payment an aggregate of 10,244,806 shares at a purchase price of $15.50 per share. The shares expected to be repurchased represent 7.55% of Cosan’s issued and outstanding Class A common shares as of September 25, 2019.
This articles was originally posted at: https://www.biofuelsdigest.com/bdigest/2019/09/26/cosan-announces-results-of-buyback-for-7-55-of-its-total-shareholding/ on