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Raízen submits binding offer to buy Shell’s unit in Argentina

SEPTEMBER 29, 2017 / 11:49 PM

SAO PAULO, Sept 29 (Reuters) – Brazil’s Raízen Combustíveis SA made a binding offer to acquire the fuel distribution unit in Argentina controlled by Shell Overseas Investments B.V. and B. V. Dordtsche Petroleum Maatschappij, said Raízen in a securities filing.

Raízen said it could not disclose any more details about the possible deal, adding there are other companies competing for the asset.

Reuters reported on August that Raízen was in talks to buy the fuel distribution unit.

Raízen is a 50-50 joint venture between Cosan SA Indústria e Comércio and Royal Dutch Shell Plc.

(Reporting by Marcelo Teixeira; Editing by Sandra Maler)


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