Marval counsels Shell on sale of Argentina downstream unit
Argentinian law firm Marval, O’Farrell & Mairal advised Anglo-Dutch oil company Shell on the sale of its downstream business in Argentina to Brazilian energy company Raízen Combustíveis and its subsidiary Raízen Argentina Holdings, in a deal valued at $916 million.
The deal had been agreed in April with a deposit payment of $100 million, while a sum of $370 million was paid on 2 October, with the remaining sum to paid by December 2019.
Shell’s downstream business in Argentina consists of a network of 655 gas stations, a refinery with a processing capacity of 108,000 barrels per day, a lubricant plant, three land terminals, two airport supply terminals, and five LPG filling plants.
Raízen was formed in 2011 as a joint venture between Shell and Brazilian sugar, ethanol and bioenergy producer Cosan.
Marval partners Diego Chighizola and Santiago Soria, together with associate Josefina Griyot, advised Shell.
Raízen was advised by Argentinian law firm Mitrani, Caballero & Ruiz Moreno Abogados, and whose team comprised lead partner Diego E. Parise, partners Mercedes Rodríguez Giavarini, Carlos Trógolo, Corina P. Laudato and Estaban Valansi.
Mitrani, Caballero & Ruiz Moreno Abogados’ associates Mikaela Badaracco, Cecilia Brunelli, Guillermo Cornejo Bosch, Juan Iglesias Mamone and Magdalena Magnasco also advised.
