SAO PAULO (Bloomberg) — Bermuda-based Cosan Ltd., the holding company that controls the world's biggest sugar cane processor, offered investors to swap three types of stock for shares in its Brazilian unit as part of a corporate reorganisation plan.

Cosan Ltd. proposed an exchange ratio of one of its Class A voting stock, or its Brazilian depositary receipts or its Class-B Series 2 stock for each voting share of Cosan SA Industria e Comercio, the world's biggest sugar-cane processor, according to a statement distributed in Sao Paulo on Friday. The plan was submitted to approval by regulatory authorities in Brazil and the US, the company said.

Shareholders are due to vote on December 5 on a proposal by controlling shareholder Rubens Ometto to increase outstanding capital to 2.92 billion reais ($1.6 billion) from about 1.19 billion reais now, Piracicaba, Brazil-based Cosan SA said last week.