April 26, 2018 |
Raizen Combustiveis said in a statement that it has agreed to buy downstream oil and gas (O&G) assets in Argentina from Royal Dutch Shell for $950m.
According to a securities filing from the Brazilian energy firm, Raizen gains a network of 645 gas stations, giving it a 20% market share in Argentina. The deal also includes a refinery in Buenos Aires, a liquefied petroleum gas unit, two airport supply bases and a lubricant plant, among others.
Raizen outbid offers from Argentina's YPF, Chile
Brazilian energy unit agrees to pay $950m for downstream facilities from the Anglo-Dutch O&G company