Cosan chairman settles dispute with Brazil's CVM

SAO PAULO Nov 9 (Reuters) - The chairman and controlling shareholder of Brazil's Cosan, Rubens Ometto Silveira Mello, agreed to pay a fine of 200,000 reais ($117,000) to settle a dispute with Brazilian securities regulator CVM, it said on Monday.

Ometto, who resigned as Cosan's executive officer in October, was accused of having spoken to the press about the group's initial public offering on the Sao Paulo stock exchange while the process was in the works.

Cosan (CSAN3.SA) (CZZ.N) is Brazil's largest sugar and ethanol producing group. Cosan's IPO on Bovespa was in November 2005. ($1 = 1.702 reais) (Reporting by Inae Riveras, editing by Leslie Gevirtz)