Can Cosan S.A.’s (CSAN) Recent Equity Restructuring Reset Its Trajectory Into 2026?

Cosan S.A. (NYSE:CSAN) is one of the 10 cheapest oil and gas stocks to invest in. Cosan S.A. (NYSE:CSAN) has announced a number of capital restructuring actions to improve control over its assets as well as add liquidity. On December 30, 2025, the company announced that Banco Bradesco BBI and Banco BTG Pactual purchased preferred shares in Cosan Dez Participações S.A. for a combined value of $4 billion. Both companies acquired an equal stake. This transaction represents roughly 23% of the firm’s equity and grants control rights equivalent to 9.98% of its voting capital.

This deal renegotiates and restructures a financing agreement originally established in 2022 with Bradesco BBI. It also incorporates a staggered put option for the banks beginning in the 5th year. Through this transaction, Cosan Dez aims to advance its post-capitalization liability optimization strategy and reduce the financial cost of its previous structure, and maintain control over Compass Gás e Energia.

Cosan S.A. also announced on December 22, 2025, that it had sold its common shares representing approximately 4.96% of the total share capital of its logistics subsidiary Rumo S.A. At the same time, the company has entered into total return swap derivative instruments to retain the same economic exposure to the divested shares. According to the company, this move is a part of its broader strategy to improve liquidity and cash management without reducing its economic or control rights in Rumo.

Cosan S.A. (NYSE:CSAN) is engaged in the fuel distribution business. The company operates through five segments: Radar, Moove, Raízen, Rumo, and Compass. It was incorporated in 1936 and is based in São Paulo, Brazil.

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Disclosure: None. This article is originally published at Insider Monkey.