Mercuria to Acquire Raízen's Refinery and Shell Gas Stations in Argentina

Swiss energy company Mercuria has signed an agreement to purchase Raízen's assets in Argentina for $1.42 billion. The acquisition includes a major refinery, a lubricant plant, and two aviation fuel terminals, along with Shell's extensive network of 894 service stations across Argentina.

The deal, confirmed by both Mercuria and Raízen through separate statements, is subject to approval from Argentine regulatory bodies. Raízen, a joint venture between Shell plc and Brazil's Grupo Cosan, stated that the net proceeds from the sale will be used for managing the group's capital structure.

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The net funds obtained will be destined for the management of the capital structure of the Raízen group.

Mercuria highlighted that this acquisition underscores its "long-term commitment" to strategic investments in global energy markets and strengthens its established presence in Latin America. The Swiss multinational views Argentina as a significant energy market with robust long-term fundamentals and substantial opportunities for operational growth and investment.

Mercuria has maintained a presence in Argentina since 2009, previously partnering with local firm Andes Energía in the oil company Phoenix Global Resources. Those operations are focused on unconventional hydrocarbon formations in Vaca Muerta and the province of Mendoza.

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Mercuria considers that Argentina represents an important energy market with solid long-term fundamentals and significant opportunities for operational growth and investment.