Cosan (NYSE: CSAN) plans BRL 1.85B sale of 12% Radar farmland stake

Rhea-AI Filing Summary

Cosan S.A., through subsidiaries of its Radar Group, has signed a purchase and sale commitment to dispose of part of Radar’s agricultural land portfolio in Brazil. The Properties represent 12% of Radar’s total agricultural land, located in Mato Grosso and covering 41,214 hectares used for soybeans, corn, and cotton.

The agreed total price is BRL 1.85 billion, with approximately BRL 586 million attributable to Cosan’s interest, subject to customary conditions precedent for this type of transaction. The deal is presented as consistent with Cosan’s strategy of divestments, deleveraging, and portfolio simplification.

Insights

Equity analyst – LatAm infrastructure and agribusiness

Cosan advances its divestment and deleveraging plan via a sizable farmland sale.

Cosan, through Radar Group, agreed to sell farmland equal to 12% of Radar’s portfolio for BRL 1.85 billion, with about BRL 586 million tied to Cosan’s interest. The land spans 41,214 hectares in Mato Grosso used for major crops.

The company explicitly links this move to its strategy of divestments, deleveraging, and portfolio simplification. While exact balance-sheet and earnings impacts are not quantified here, the transaction value indicates a meaningful reallocation of capital within its agricultural investments.

Completion depends on “customary conditions precedent,” so timing and final closing remain contingent. Subsequent disclosures in company communications can clarify how much this transaction reduces debt and how Cosan redeploys or returns the proceeds.

Key Figures

Total transaction value: BRL 1.85 billion Cosan’s economic interest: BRL 586 million Portfolio share sold: 12% of Radar’s agricultural land portfolio +1 more

4 metrics

Total transaction value BRL 1.85 billion Offered price for Radar properties in Mato Grosso

Cosan’s economic interest BRL 586 million Portion of the BRL 1.85 billion attributable to Cosan

Portfolio share sold 12% of Radar’s agricultural land portfolio Properties included in the transaction

Land area 41,214 hectares Area of the Radar properties in Mato Grosso

Key Terms

purchase and sale commitment agreement, conditions precedent, divestments, deleveraging, +1 more

5 terms

purchase and sale commitment agreement financial

"has entered into a purchase and sale commitment agreement (“Purchase and Sale Agreement”)"

conditions precedent regulatory

"The completion of the transaction is subject to certain customary conditions precedent for this type of transaction."

Conditions precedent are the specific tasks, approvals, or facts that must be satisfied before a contract or transaction becomes effective or a payment is made. Think of them as a checklist you must complete before turning the key on a new machine; if items are missing the deal can be delayed, renegotiated, or canceled. Investors watch these conditions because they determine timing, completion risk, and whether expected benefits will actually occur.

divestments financial

"This transaction is aligned with Cosan’s strategy of divestments, deleveraging, and portfolio simplification."

deleveraging financial

"This transaction is aligned with Cosan’s strategy of divestments, deleveraging, and portfolio simplification."

Deleveraging is the process of a company reducing the amount of debt it carries relative to its assets or equity, either by paying down loans, selling assets, or raising fresh equity. For investors it matters because lower debt typically means less financial risk and steadier cash flow—like removing weight from a backpack to make a hike safer and easier—while it can also slow growth if borrowing had been funding expansion.

portfolio simplification financial

"This transaction is aligned with Cosan’s strategy of divestments, deleveraging, and portfolio simplification."

Portfolio simplification is the process of reducing the number of different investments within a collection to make managing it easier and clearer. Think of it like organizing a cluttered toolbox by keeping only the most useful tools, making it simpler to find what you need and ensuring everything works smoothly. For investors, it can help reduce complexity, lower costs, and focus on their most important financial goals.

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

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-40155

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 X Form 40-F

COSAN S.A.

CNPJ nº 50.746.577/0001-15

NIRE 35.300.177.045

Publicly held company

CVM Code 19836

MATERIAL FACT

COSAN S.A. (B3: CSAN3; NYSE: CSAN) (“Cosan” or “Company”), in compliance with the provisions of CVM Resolution No. 44, hereby informs its shareholders and the market in general that Radar Group, on the date of yesterday, through certain of its subsidiaries (“Radar”), which hold agricultural properties with investments by Cosan, has entered into a purchase and sale commitment agreement (“Purchase and Sale Agreement”) for the disposal of part of the properties in its portfolio (“Properties”).

The Properties correspond to 12% of Radar’s total agricultural land portfolio, are in the state of Mato Grosso, comprise a total area of 41,214 hectares, and are used for the cultivation of soybeans, corn, and cotton. The total price offered by the third-party buyer for these Properties is BRL 1.85 billion, of which approximately BRL 586 million corresponds to Cosan’s interest.

The completion of the transaction is subject to certain customary conditions precedent for this type of transaction.

This transaction is aligned with Cosan’s strategy of divestments, deleveraging, and portfolio simplification.

Cosan will keep its shareholders and the market duly informed in accordance with the applicable regulations.

São Paulo, June 17, 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: June 17, 2026

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

FAQ

What transaction did Cosan S.A. (CSAN) announce in this 6-K?

Cosan announced that Radar Group subsidiaries signed a purchase and sale commitment to dispose of farmland properties. The assets equal 12% of Radar’s agricultural land portfolio in Mato Grosso, used for soybeans, corn, and cotton, as part of Cosan’s divestment strategy.

How large is the farmland portfolio Cosan is selling through Radar Group?

The properties being sold represent 12% of Radar’s total agricultural land portfolio. They cover 41,214 hectares in the state of Mato Grosso and are currently used for cultivating soybeans, corn, and cotton, indicating a sizable slice of Radar’s agricultural footprint.

What is the transaction value of Cosan’s Radar farmland sale?

The total price offered by the third-party buyer for the Radar properties is BRL 1.85 billion. Of this amount, approximately BRL 586 million corresponds to Cosan’s economic interest, reflecting a substantial prospective cash inflow tied to its agricultural investments.

How much will Cosan S.A. receive from the Radar property sale?

Cosan’s interest in the Radar properties being sold is approximately BRL 586 million. This amount represents Cosan’s share of the BRL 1.85 billion total price and is linked to its divestment and deleveraging strategy described in the company’s material fact notice.

What strategic goals does this transaction support for Cosan (CSAN)?

Cosan states that the Radar farmland transaction aligns with its strategy of divestments, deleveraging, and portfolio simplification. By selling part of its agricultural property exposure, the company aims to streamline its asset base and support its capital structure objectives.

Is the Cosan Radar farmland sale already completed?

The transaction is not yet completed. Cosan explains that closing of the Radar farmland sale is subject to certain customary conditions precedent typical for this type of real estate transaction, so completion will depend on satisfying those agreed conditions.