Shell to sell downstream business in Argentina
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
Shell has signed an agreement to sell its downstream business in Argentina to Raízen (a joint venture between Shell and Cosan) for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions.
The sale includes the Buenos Aires Refinery, around 645 retail stations, LPG, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and distribution activities in the country.
After the transaction closes, the businesses acquired by Raízen will continue its relationships with Shell through various commercial agreements, which represent an estimated value of US$0.3 billion.
The agreement with Raízen is the result of a competitive bidding process and the sale is expected to be completed later this year.
The deal offers the opportunity to consolidate a regional partnership between Shell and Cosan.
Read the article online at: https://www.hydrocarbonengineering.com/refining/26042018/shell-to-sell-downstream-business-in-argentina/
You might also like
The Hydrocarbon Engineering Podcast - Overcoming downstream challenges with new technology
In this episode of the Hydrocarbon Engineering Podcast, Omar Sayeed, Centre of Excellence Leader for Reliability, and Rahul Negi, Director of AI and Industrial Autonomous, Honeywell Process Solutions, consider how new, innovative technology can help to overcome some of the challenges facing the downstream oil and gas sector.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
