By Lucia Kassai and Andrew Herndon – Jun 2, 2011 8:38 PM GMT+0100
Cosan SA Industria & Comercio rose the most in a week after it transferring $3.3 billion in debt to a joint venture with Royal Dutch Shell Plc (RDSA), more than previously announced.
Cosan rose 93 Brazilian centavos, or 4 percent, to 24.06 reais at 4:34 p.m. in Sao Paulo trading, the most since May 25. Shells Class A shares fell 1.7 percent in London to close at 2,122 pence.
Cosan shifted about 5.24 billion reais ($3.3 billion) in net debt to the Raizen venture, the Barra Bonita, Brazil-based company said today in a regulatory filing. Thats more than the $2.8 billion in debt it said in August that would transfer to the new company, which was formally created today.
By transferring the liabilities to Raizen, Cosans net debt dropped 69 percent to 1.63 billion reais, compared with 5.3 billion reais as of Dec. 31, 2010, the latest available figure.
Cosan is contributing more debt as it is including debt from the Zanin mill acquisition, chief financial officer Marcelo Martins said on a call with analysts today. Cosan will become lighter and have an improved capital structure.
Cosan bought in February assets from Usina Zanin Acucar & Alcool Ltda in Brazil for 142 million reais in cash and agreed to take on 236 million reais of debt.
Largest Cane Processor
Shell, Europes largest oil company by market value, and Cosan combined their their sugar, ethanol and fuel-distribution assets in Brazil to form Raizen, the worlds largest sugar-cane processor. Cosan contributed 23 mills, 1,730 gas stations and other assets, and Shell put up as much as $1.6 billion in cash and assets, including 2,740 stations.
As part of the agreement, The Hague-based Shell transferred a 15.7 percent stake in enzyme producer Codexis Inc. (CDXS) to Raizen, which is now its largest shareholder, Codexis said today.
The deal also includes part of Shells interest in Iogen Energy, a 50-50 joint venture with Ottawa-based enzyme producer Iogen Corp. that is developing cellulosic ethanol technology, Shell said today.
Brazilian billionaire Rubens Ometto Silveira Mello, who controls Cosan, will be chairman of Raizen and will have an annual compensation of about 13 million reais, Cosan said.
To contact the reporters on this story: Lucia Kassai in Sao Paulo at [email protected]; Andrew Herndon in San Francisco at [email protected]
To contact the editor responsible for this story: Dale Crofts at [email protected]
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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