Cosan reviews Rumo stake sale as bids arrive

Rhea-AI Filing Summary

Cosan S.A. (CSAN) reports that, as part of its stated deleveraging strategy, it is advancing the evaluation of alternatives for the sale of a portion of its equity interest in Rumo S.A. The process has progressed to the stage where potential interested parties are submitting binding proposals.

The company states that no decision has been made so far regarding any transaction involving its stake in Rumo and commits to inform the market of any material developments related to this process.

Key Terms

Material Fact, deleveraging strategy, binding proposals, Brazilian Securities and Exchange Commission

4 terms

Material Fact regulatory

"CVM Code 01983-6 MATERIAL FACT COSAN S.A. (B3: CSAN3; NYSE: CSAN)"

Information or an event that a reasonable investor would consider important when deciding to buy, sell or hold a security; it changes the expected value, risk, or outlook of an investment. Regulators treat material facts as disclosures that companies must share publicly because they can affect market prices, similar to a key ingredient in a recipe that determines the final taste. It matters to investors because material facts can change the basis for an investment decision and move trading activity and prices.

deleveraging strategy financial

"in line with its deleveraging strategy, it has continued to advance the process"

A deleveraging strategy is a plan a company uses to reduce its reliance on borrowed money by paying down loans, selling assets, trimming costs, or swapping debt for ownership stakes. Like a homeowner lowering their mortgage to ease monthly bills and risk, it can improve a firm’s financial health, credit standing and resilience to shocks — but it can also slow growth if it requires selling productive assets or cutting back investment.

binding proposals financial

"such process is in the phase of submission, by potential interested parties, of binding proposals"

Brazilian Securities and Exchange Commission regulatory

"in compliance with Brazilian Securities and Exchange Commission (“CVM”) Resolution No. 44/2021"

A federal regulator that oversees Brazil’s securities markets, ensuring companies, stock exchanges, brokers and fund managers follow rules on disclosure, trading and investor protection. Think of it as a financial referee or traffic controller that reduces fraud and surprises by enforcing clear reporting and fair trading; its actions affect how risky or trustworthy Brazilian investments appear and can influence market prices and investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Cosan S.A. (CSAN) announce regarding its stake in Rumo S.A.?

Cosan announced that it is evaluating alternatives for the sale of a portion of its equity interest in Rumo S.A., consistent with its deleveraging strategy, and that the process has reached the stage of receiving binding proposals from potential buyers.

Has Cosan S.A. (CSAN) decided to sell part of its Rumo S.A. stake?

Cosan states it has made no decision yet about executing a transaction involving its stake in Rumo S.A. It is still evaluating alternatives and will update the market on any material developments in the process.

How does the potential Rumo S.A. sale relate to Cosan S.A. (CSAN)’s strategy?

Cosan links the potential sale of part of its Rumo S.A. stake to its deleveraging strategy. This indicates the evaluation of a possible transaction is aligned with efforts to manage and potentially reduce the company’s overall leverage profile.

What stage has the Rumo S.A. sale process reached for Cosan S.A. (CSAN)?

The process has reached the phase where potential interested parties are submitting binding proposals. This indicates discussions have moved beyond preliminary interest to formal offers under evaluation by Cosan.

What regulatory framework governs Cosan S.A. (CSAN)’s disclosure about Rumo S.A.?

Cosan states that the disclosure is made as a Material Fact in compliance with CVM Resolution No. 44/2021, the Brazilian Securities and Exchange Commission rule that governs timely disclosure of relevant information to the market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Accepted by SEC EDGAR 08/20/2026 - 10:03 AM EDT Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Issuer

Pursuant To Rule 13a-16 Or 15d-16 of the

Securities Exchange Act of 1934

For the month of August 2026

Commission File Number: 333-251238

COSAN S.A.

(Exact name of registrant as specified in its charter)

N/A

(Translation of registrant’s name into English)

Av. Brigadeiro Faria Lima, 4100, – 16th floor
São Paulo, SP 04538-132 Brazil
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40‑F:  

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ☐ No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ☐ No ☒

 

COSAN S.A.

CNPJ nº 50.746.577/0001-15

NIRE 35.300.177.045

Publicly Held Company

CVM Code 01983-6

MATERIAL FACT

COSAN S.A. (B3: CSAN3; NYSE: CSAN) (“Cosan” or the “Company”), in compliance with Brazilian Securities and Exchange Commission (“CVM”) Resolution No. 44/2021 and further to the Notice to the Market disclosed on June 29, 2026, hereby informs its shareholders and the market in general that, in line with its deleveraging strategy, it has continued to advance the process of evaluating alternatives for the sale of a portion of its equity interest in Rumo S.A. (“Rumo”).

As reported in recent media articles, such process is in the phase of submission, by potential interested parties, of binding proposals. The Company has not made any decision, to date, regarding the execution of a transaction involving its stake in Rumo.

The Company will keep the market informed of any material developments related to this process.

São Paulo, August 20, 2026.

Rafael Bergman

Chief Financial and Investor Relations Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 20, 2026

	COSAN S.A.
	By:	/s/ Rafael Bergman
		Name:            Rafael Bergman
		Title: Chief Financial Officer