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Infinity requested judicial recovery proceedings in May, which is similar to Chapter 11 reorganization in the U.S.
The sale of Navirai in Mato Grosso do Sul state - one of the company's six mills - is estimated to raise at least 180 million Brazilian reals ($97 million), Estado reported.
Infinity will take 10 years to pay nearly BRL1 billion to its principal creditors. Its final plan should be submitted in November, the newspaper reported.
The company was unavailable for further comment.
Brazil is the world's leading sugar-cane-based ethanol producer.
-By Tony Danby, Dow Jones Newswires; 55-11-2847-4523; Anthony.Danby@dowjones.com
(END) Dow Jones Newswires
08-26-09 0949ET
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