October 24, 2018 / 2:37 PM / a month ago

UPDATE 1-Brazil's Cosan mulls incorporating logistics subsidiary

(Adds shares, company structure)

SAO PAULO, Oct 24 (Reuters) - Shares in Brazil’s Cosan Logística SA surged 13 percent on Wednesday after parent company Cosan SA Indústria e Comércio said it is studying the incorporation of its logistics subsidiary.

In a securities filing, Cosan said the transaction could reduce operating expenses and optimize the group’s corporate structure. A potential incorporation should take up to 12 months, Cosan added, without providing further details.

Cosan Logística has a 28.47 percent stake in railway operator Rumo SA.

In mid-morning trade, shares in Cosan Logística were trading at 12.15 reais, up 7.9 percent, while shares in Cosan were down 6.68 percent. (Reporting by Carolina Mandl and Paula Arend Laier Editing by Chizu Nomiyama and Paul Simao)

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