By Tatiana Bautzer
SAO PAULO, May 31 (Reuters) – Shares in energy company Cosan SA were up 8% in late morning trading in Sao Paulo after the company announced an agreement with asset manager Atmos for an investment in subsidiary Compass.
The transaction values natural gas subsidiary Compass at 16.5 billion reais ($3.15 billion), Cosan said in a securities filing.
Atmos is expected to act as an anchor in Compass initial public offering later this year. Funds managed by Atmos will acquire 4.7 percent stake in Compass for 810 million reais, Cosan added.
Cosan common shares were trading at 23.70 reais in late morning trading in Sao Paulo ($1 = 5.2396 reais) (Reporting by Tatiana Bautzer; Editing by David Gregorio)