Shell increases capital injection for Raizen venture
Shell plans to inject up to 3.5 billion reais into Raizen to help the sugar producer manage heavy debts. The company needs a total of 25 billion reais.
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Global energy giant Shell plc[Symbol:{ "assets":{ "symbol":"SHEL" } }] is reportedly prepared to increase its financial commitment to help recapitalize Raizen, its troubled sugar and ethanol joint venture in Brazil[Country:{ "assets":{ "country":"BR" } }]. Sources familiar with the matter indicate that the oil major is ready to provide a larger backstop as the producer faces severe financial pressure.
