* Deal to be put to vote at shareholder meeting Feb. 19
* Valor says 25 percent of Biosev to be offered in IPO
* Company not immediately available to comment on report
SAO PAULO, Feb 1 Biosev SA, the Brazilian
sugarcane processing unit of France's Louis Dreyfus Corp
, may revive plans to list shares in the coming
months, Valor Economico reported on Friday.
Biosev will put to a shareholder vote a plan to raise about
760 million reais ($380 million) with the offering of a 25
percent stake, Valor said, citing people with knowledge of the
situation, as investor appetite in Latin America's largest
equity market gradually returns after years of restraint.
A shareholder meeting to discuss the issue is scheduled for
Feb. 19, the newspaper reported. Calls made to a Biosev
spokeswoman in Sao Paulo were not immediately returned.
The company suspended plans for an IPO in July, citing a
lack of demand from investors.
Stung by a string of deals that failed to deliver the
promised returns, investors are being extra cautious in Brazil,
casting a dark cloud over a pipeline of some $6 billion of
potential IPO transactions in 2013.
Valor reported Biosev was planning to take advantage of a
"more favorable" environment after successful bond issues by
local sugar mills. The IPO could be conducted weeks after the
shareholder meeting, the report noted.
Brazil's sugarcane and ethanol industries have struggled in
the wake of the global financial crisis of 2008 due to excess
leverage and heavy investment in the previous years. Some 30
mills shut in the past year and a half.
Separately, the company is in the process of sealing the
offering of 600 million reais through a private placement,
according to Valor. The process is expected to be concluded by
Feb. 28, Valor said.