Company News

Brazil's Raizen Buys Shell Downstream Assets in Argentina for $950 mln

Reuters
25/04/2018 15:29
Visualizações: 1626 (0) (0) (0) (0)

Brazil's Raizen Combustiveis SA agreed to buy downstream assets in Argentina from Royal Dutch Shell PLC for $950 million, according to a securities filing on Tuesday.

 

Raízen Combustiveis, a joint venture between Brazil´s Cosan SA Indústria e Comércio and Shell, will have a 20 percent market share in fuel distribution in Argentina after acquiring a network of 645 gas stations in the country.

 

Raízen also is acquiring a refinery in Buenos Aires, LPG and aviation fuel terminals and a lubricant plant, among others, which have an annual net revenue of $3.3 billion.

 

Reuters first reported that Raízen would buy the business last August.

 

The deal in Argentina is similar to the model Shell operates in downstream assets in Brazil. The network of 6,200 gas stations that uses the Shell brand is owned by its joint venture with Cosan.

 

During the sale process, Raízen´s bid topped rival offers by Argentine oil company YPF SA, Chile's Quinenco SA and China National Petroleum Corp's Petrochina Co.

 

The businesses acquired by Raízen will continue their relationships with Shell through various commercial agreements, representing an estimated value of $300 million, Shell said https://go.shell.com/2HntfeH.

 

The Anglo-Dutch company said it will keep its upstream interests in the Vaca Muerta shale formation, which was not included in the Raízen deal, as it "sees substantial long-term growth potential in Argentina's shale resources."

 

The sale is part of Shell's strategy to simplify its portfolio through a $30 billion divestment program by 2018, and follows a strategic review of the downstream business in Argentina that began in August 2016.

Most Read Today
see see
ANP
A\Sense wins ANP technology challenge with advanced opti...
09/09/25
Rio Pipeline & Logistics 2025
Rio Pipeline & Logistics 2025 kicks off today, September 9
09/09/25
Minas Gerais
With R$ 314 million investment, pioneering macaúba biofu...
03/09/25
Recognition
Supergasbras earns Gold Seal in the Brazilian GHG Protoc...
03/09/25
FIRJAN
Brazilian industry records four consecutive months witho...
03/09/25
Copel
EPE President presents future outlook for the power sector
03/09/25
FIRJAN
Together with CNI, Firjan launches business mission in t...
03/09/25
Gulf of America
C-Innovation completes successful decommissioning projec...
28/08/25
Equatorial Margin
Rig chartered by Petrobras arrives in Amapá to take part...
19/08/25
FIRJAN
Rio gains Firjan SENAI Metalworking Reference Center
19/08/25
RD&I
CEPETRO develops for Petrobras a tool that integrates mu...
19/08/25
Pre-Salt
Búzios Field surpasses the record level of 900 thousand ...
19/08/25
Logistics
PetroReconcavo and Dislub build an unprecedented oil out...
19/08/25
IBP
NAVE Program advances with 21 energy sector startups
19/08/25
International Event
The 3rd Annual World ReAM Show Returns to Dubai, Bridgin...
13/08/25
Sustainability
ATPI Expands Global Sustainability Portfolio with Brazil...
06/08/25
Results
ANP releases consolidated 2024 data in English for the r...
29/07/25
Sergipe Oil & Gas 2025
SOG25 Surpasses Expectations in Its 4th Edition and Sets...
28/07/25
Sergipe
Government of Sergipe and Petrobras Strengthen Partnersh...
28/07/25
Sergipe Oil & Gas 2025
Sergipe Oil & Gas 2025 Highlights the Competitiveness of...
25/07/25
Sergipe Oil & Gas 2025
Márcio Félix, President of ABPIP, Sees a Promising Futur...
25/07/25
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.

2