Cosan Ltd (CZZ), which operates the world’s biggest sugar-cane processor, offered to buy railroad operator ALL-America Latina Logistica SA (ALLL3.SA) for $3 billion in an all-stock deal. Under the terms of the offer, Cosan will merge its Rumo unit with ALL and later split into an energy unit and a logistics company, both of which will be publicly traded. Cosan Ltd. (CZZ) will be the parent of both.
Spin-Off
