Cosan seeks BRL 5 billion for a 15% stake in Rumo

Brazilian conglomerate Cosan is aiming to raise 5.0 billion Brazilian reais by selling a 15% stake in rail operator Rumo, according to a report published by O Estado de S. Paulo on October 1, 2026. Cosan currently holds a 20% equity stake in the logistics company.

Rumo reached a total market capitalization of BRL 26.6 billion on the B3 exchange as of September 30, 2026. The rail operator's share price gained 30% from its mid-July trough to the end of September, strengthening the valuation backdrop for the discussions.

Cosan enters the negotiations with reduced financial pressure following recent asset sales that brought in BRL 2.6 billion. That total includes BRL 2.0 billion from the initial public offering of Compass and BRL 586 million from farmland sales by its Radar unit. Cosan also expects BRL 300 million from the pending sale of its stake in Terminal Porto São Luís, alongside BRL 10.0 billion raised earlier through an equity capitalization and public share offering.

The divestments helped Cosan cut its consolidated debt by 47% year-over-year in the second quarter of 2026. Net debt fell 20% sequentially to BRL 9.2 billion at the close of the second quarter, while affiliate Raízen renegotiated BRL 70.0 billion in debt through an extrajudicial recovery process.