Latin Lawyer
19/08/2025
Por Maya Kendall Shah
Two separate Pinheiro Neto Advogados teams were enlisted for a deal in which Brazil’s Raízen Energia divested 1 billion reais (US$180 million) worth of sugar mill assets to a group of six local ethanol companies following the closure of its Santa Elisa plant.
Pinheiro Neto advised Raízen in the sale, while another group of lawyers from the same firm helped one of the buyers, Brazilian ethanol producer São Martinho.
L O Baptista assisted Usina Batatais, which also bought assets agricultural assets previously used for the operations of Raízen’s now-defunct Santa Elisa mill.
Latin Lawyer was unable to confirm counsel for the other buyers in the deal, Usina Alta Mogiana, Pitangueiras, Viralcool and Usina Bazan.
The deal was signed on 15 July.
The sales come after the 89 year old Santa Elisa plant, based in the Sertãozinho municipality of São Paulo, officially shut down in mid-July.
The mill’s agricultural assets were transferred into several new holding companies,whose shares were then sold to each buyer.
Raízen’s decision to close down one of its oldest sugar mills came as part of thecompany’s global reorganisation plan, through which it is streamlining operations.
Once the largest cane-crushing mill in the world, with a capacity to process 7 milliontonnes of sugar ethanol at the peak of its operations in the late 1990s, Santa Elisafaced a gradual decline amid financial difficulties over the past two decades thathave led to its recent closure.
Counsel to Raízen Energia
Pinheiro Neto Advogados
Partner Gustavo Crêdo and associates Fernando Bammann and Camila RamenzoniBarone
Counsel to São Martinho
Pinheiro Neto Advogados
Partner Camila Gomes
Counsel to Usina Batatais
L O Baptista
Partner Daniela Zaitz and associate Felipe Castro
