April 24, 2018 / 11:49 AM / a month ago

Brazil's Raízen buys Shell downstream assets in Argentina for $950 mln -filing

BRASILIA, April 24 (Reuters) - Brazil’s Raizen Combustiveis SA agreed to buy downstream assets in Argentina from Royal Dutch Shell PLC for $950 million, according to a securities filing on Tuesday.

Raízen Combustiveis, a joint venture between Brazil´s Cosan SA Indústria e Comércio and Shell, will have a 20 percent market share in fuel distribution in Argentina after acquiring a network of 645 gas stations in the country. Reuters first reported that Raízen would buy the business last August. (Reporting by Tatiana Bautzer and Jake Spring)

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