Sao Paulo: Brazilian Energy Company Raizen Energia SA is planning to partner with other companies through divestment to drive growth across its business units, said the company executives, reports Reuters.
The company has several assets that could be monetized through sales or partnerships, said the CEO of the company Ricardo Mussa during a meeting with investors and analysts.
Mussa emphasized that the “portfolio recycling” plan does not have a specific target at the moment. However, he assured stakeholders that any deals would be executed with great rigor, ensuring that they align with the company’s long-term strategy.
The extent of the divestments will be influenced by various factors, including the performance of this year’s sugarcane harvest in Brazil.
The firm is one of the largest fuel distributors in Brazil and operates in the sugar as well as ethanol sector. Now it is considering launching operations with Raizen Power which has recently started a business unit in the electricity sector.