SAO PAULO (Bloomberg) — Cosan Ltd., which controls the world's second-largest sugar-cane processor, will raise the amount of stock it plans to sell to its principal shareholder and Brazil's Gavea Investimentos Ltda. to $200 million from $150 million.

Bermuda-based Cosan, a holding company that controls Priacicaba, Brazil-based Cosan SA Industria e Comercio, will sell Gavea as many as 33.3 million Cosan Ltd. class A voting shares, or Brazilian Depositary Shares, for $4.50 a share, Cosan Ltd. said in a statement to Brazil's securites regulator. Gavea is controlled by former Brazilian central bank president, Arminio Fraga.

Cosan Ltd. will also sell as many as 11.1 million class A voting shares to Rubens Ometto Silveira Mello, who controls Cosan Ltd. Cosan SA is the world's largest producer of ethanol from sugar cane.