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Fly News Breaks for August 28, 2019
CZZ
Aug 28, 2019 | 09:54 EDT
JPMorgan analyst Lucas Ferreira views the tender offer to repurchase shares announcement by Cosan as a positive. The pace of buybacks will lead Cosan's discount to net asset value to narrow further from the current 32% to 25% of below, Ferreira tells investors in a research note. The analyst also thinks the buybacks are a first step towards a future collapsing of Cosan's holding structure.
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