Marval, Haynes and Boone advise Shell on sale of Argentinian downstream assets
Haynes and Boone in Dallas, Houston and Mexico City teamed up with Marval in Buenos Aires to advise Shell on the $950 million sale of its local downstream business.
Raízen is a joint venture set up in 2011 between an affiliate of Shell and Cosan, the Brazilian conglomerate producer of bioethanol, sugar and energy. Raízen is a biofuels producer and fuels distributor in Brazil and currently manages more than 6,000 Shell-branded service stations.
The deal, which is still subject to usual closing conditions, includes a Shell refinery in Buenos Aires, around 645 retail stations, as well as various other fuel business and distribution activities in the country. After closing, the businesses acquired by Raízen will continue their relationships with affiliates of Shell through various commercial agreements.
Partner Ricardo Garcia-Moreno led the Haynes and Boone team, which included partners Alberto de la Peña and Patricia Mastropierro.
Marval, O’Farrell & Mairal advised Shell and affiliates on Argentine law. Partners Diego Chighizola and Santiago Soria led the Marval team, which also included partners Francisco Macías, Maria Inés Brandt, Diego Kelly and Santiago del Río.
