Sao Paulo, May 20 - Brazilian sugar and ethanol producer Cosan said on Wednesday it agreed to sell its aviation fuel business to Shell Brasil Ltda, the domestic unit of Royal Dutch Shell Plc, for $75 million.
The sale is expected to be completed in 30 days, Cosan said in a statement. Cosan took over the aviation fuel business when it bought the Brazilian fuel distribution from Exxon Mobil Corp in 2008 for about $830 million.