BRAZIL · BUSINESS
Key Facts
—Deal closed: Raízen completed the sale of its Argentina downstream business to Switzerland’s Mercuria Energy Group on Tuesday, 1 September, for R$7.3 billion (US$1.42 billion).
—What changed hands: The Dock Sud refinery (14% of Argentina’s fuel output), 894 Shell-branded service stations (17.9% market share), a lubricants plant, airport fueling platforms and fuel terminals.
—Why it sold: The cash funds Raízen’s capital-structure management inside Brazil’s largest-ever out-of-court debt restructuring, covering about R$65 billion (US$12.6 billion).
