August 8, 2019 |
Mexico's Femsa said it has agreed to buy 50% of Raízen Conveniencias, a convenience store chain owned by the Brazilian sugar and ethanol producer Raízen.
Femsa will spend BRL561m ($141m) and a form a 50-50 joint venture with Raízen, the Mexican company said in a statement.
Raízen, a joint venture between Cosan and Shell, operates 6,200 Shell service stations in Brazil, including 1,000 Select-branded convenience stores.
The new joint venture can increase the number of Select stores at Shell servi
Mexican company pays $140m for 50% of a new joint venture with the Brazilian sugar and ethanol producer