Overview
- A consortium led by José Luis Manzano and Daniel Vila, alongside Swiss energy firm Mercuria, has submitted a binding offer of about US$1.4 billion, according to reports from La Nación and Clarín.
- The assets on the block include Shell-branded service stations nationwide and the Dock Sud refinery, with outlet counts reported from roughly 700 to nearly 900.
- Raízen has not accepted the offer and could still walk away if the price does not satisfy its expectations, with a decision reported as possible within days.
- Competing interest came from Trafigura, Vitol and local player CGC, but none is reported to have surpassed the consortium’s proposal.
- Raízen, a joint venture of Shell and Cosan that invested US$715 million to modernize Dock Sud, is seeking to lighten leverage after weak performance and a steep share decline in Brazil.