Raizen S.A. agreed to acquire Biosev S.A. (BOVESPA:BSEV3) from Louis Dreyfus Holding B.V. and others on February 8, 2021. Raizen will pay BRL 3.6 billion to Biosev shareholders, who will also receive 3.5% of Raizen preferred shares. Additionally 1.49% of redeemable shares will also be paid subject to conditions. Raizen-Biosev agreement also includes an earn-out payment of up to BRL 350 million to be made by Raizen to Biosev shareholders after the fifth anniversary of the closing date, which will depend on sugar and ethanol prices. The company declined to disclose the full purchase price. Biosev's debt of around BRL 7.7 billion was not included in the deal and will remain with its current shareholders. As of March 1, 2021, CADE approved the transaction. Maria Fernanda de Almeida Prado e Silva, Luciana Pietro Lorenzo, Marcio Soares, Moacir Zilbovicius, Gil Falleiros Mendes, Anderson Jardim D'Avila of Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados acted as legal advisors for Biosev and Louis Dreyfus. Fernando Alves Meira, Gustavo Paiva Cercilli Crêdo and Ana Carolina Malnarcic of Pinheiro Neto Advogados acted as legal advisors for Raizen. Signatura Lazard Assessoria Financeira Ltda. acted as financial advisor to Raízen S.A.

Raizen S.A. completed the acquisition of Biosev S.A. (BOVESPA:BSEV3) from Louis Dreyfus Holding B.V. and others on August 10, 2021.