Raízen, controlled by Brazil’s Cosan Group and Shell plc with a 44 percent stake each, structured the sale as part of a broader strategy to optimize its asset portfolio and reduce debt levels. The Brazilian company stated proceeds will be directed toward managing its capital structure, redirecting investment toward markets designated as strategic priorities. The transaction follows months of due diligence that intensified in late 2025, with negotiations entering final stages earlier this year.
Mercuria’s acquisition marks a substantial expansion of its presence in Argentina’s fuel market. Founded in Geneva in 2004, the company operates across more than 50 countries with annual revenues exceeding $140 billion, participating in oil, refined products, natural gas, LNG, power, renewables, and metals trading. The firm has maintained operations in Argentina since 2009 through its partnership with Andes Energía in Phoenix Global Resources, which holds assets in the Vaca Muerta formation and Mendoza province.
Continuity of the Shell brand represented a critical negotiation point, with sources indicating license transfer approval from the parent company was essential for completing the transaction. The deal requires clearance from Argentine regulatory and judicial authorities before finalization.
The transaction positions Mercuria to control strategic refining and distribution infrastructure serving Argentina’s domestic market. The company characterized Argentina as an important energy market with solid long-term fundamentals and significant opportunities for operational growth and investment. With the Dock Sud refinery among Argentina’s largest crude processing facilities, the acquisition provides Mercuria with integrated capabilities spanning refining, logistics, and retail distribution across the country.
This article was curated and published as part of our South American energy market coverage.
