Raízen closes $1.42B sale of Argentina operations to Mercuria
What's the deal? RaízenDealroom has a profile for this one. Try Dealroom → has completed the sale of its Argentine operations to Swiss multinational Mercuria Energy GroupDealroom has a profile for this one. Try Dealroom → in a transaction valued at $1.42 billion. The deal, originally announced in June, closed on September 1.
Why now? The closing followed the fulfilment of all precedent conditions set out in the deal documents, including the required regulatory approvals. The final price remains subject to customary post-closing adjustments based on closing financial statements.
What's the endgame? Raízen said the sale fits its strategy of "optimisation of its asset portfolio, simplification of its operational structure and disciplined capital allocation, with a focus on priority markets and geographies." The net proceeds will go toward managing the company's capital structure.
The signal: The disposal marks another step in Raízen's push to trim its footprint and concentrate on core markets, handing Mercuria a larger foothold in Argentina's energy sector.
Read more: valor.globo.com
Image credit: Horia Varlan
