Raízen Creditors Name Board Reps for Post-Debt-Conversion Entities

Raízen creditors have selected board representatives for the two companies resulting from the planned separation of its fuel and sugar/ethanol/bioenergy businesses, per Valor. However, banks have not agreed to transfer management of shares received via debt conversion to specialized restructuring firms, with shares likely to remain with the financial institutions. This indicates progress in the debt restructuring but unresolved governance arrangements.