By Marcelo Teixeira:Thu Nov 26, 2015 6:47pm GMT
SAO PAULO Nov 26 (Reuters) – Brazilian energy and transportation group Cosan SA Industria e Comercio has no plans to part ways with Royal Dutch Shell on their Raízen joint venture, the world’s largest cane processor, Cosan Chairman Rubens Ometto said on Thursday.
Asked by Reuters to comment on a local newspaper report that Shell, the oil major, would exercise a contractual option to buy out Cosan’s stake in Raízen, Ometto said the story was completely unfounded.
Brazilian financial publication Valor Econômico reported earlier this week that some changes in the managing group at Raízen have been made in recent days in preparation for Shell to take full control of the 50-50 joint venture formed in 2011.
Raízen put together Cosan’s sugar and ethanol operations and Shell’s fuels distribution business in Brazil.
“We have a fantastic partnership with Shell. We are very happy, Shell is happy, nothing is going to change in the current structure,” said Ometto, who has engineered a flurry of acquisitions in the last decade in sugar, biofuels, gas distribution and transportation.
Besides the 50 percent share in Raízen, Cosan controls Companhia de Gas de Sao Paulo Comgas, Brazil’s largest natural gas distributor, and Rumo Logística Operadora Multimodal SA, one of the largest rail companies in Latin America.
According to Ometto, Cosan and Shell are working on changes to their original contract to modify the buyout clauses.
“The contractual option that would allow Shell to have 100 percent of Raízen is being undone,” he said.
“When you marry with someone you need to have a way out. That was foreseen in the original contract. But now we already know each other, we are getting along well together, so these protection clauses are no longer necessary”, Ometto said.
Shell declined to comment on the matter.
Ometto said management changes at Raízen are normal and will continue when necessary, but they are not related to eventual ownership issues.
Raízen’s chief operating officer, Pedro Mizutani, left that job recently. Ometto said Mizutani will take a more strategic position in the company, due to his extensive knowledge of the Brazilian sugar and ethanol business.
(Editing by Jeffrey Benkoe)
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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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