SAO PAULO, Sept 30 Cosan SA Indústria e
Comércio, an energy and agriculture company in Brazil, agreed to
sell 1.065 billion reais ($326 million) in shares of its Radar
subsidiary to an investment vehicle owned by pension fund
Teachers Insurance and Annuity Association of America
(TIAA), said a Cosan securities filing on Friday.
Radar is an agricultural land management company, holding
some 280,000 hectares in farms in eight Brazilian states.
Cosan, which is a leading sugar and ethanol
producer through its joint venture Raízen with Royal Dutch Shell
Plc, said it signed the deal with Mansilla
Participações Ltda, a TIAA investment vehicle.
The Brazilian company did not say how many shares were
included in the deal or the resulting stake Mansilla would hold.
The deal is subject to regulatory approvals in Brazil.
(Reporting by Marcelo Teixeira; Editing by Lisa Shumaker)