TozziniFreire acts for FEMSA on Raízen Combustíveis JV
Brazilian law firm TozziniFreire Advogados has advised Mexican conglomerate FEMSA on its creation of a joint venture with Brazil’s Raízen Combustíveis to explore the convenience store business both at and separate from service stations, under the trademark SELECT.
The joint venture will be implemented through the subscription of newly-issued shares in Raízen Combustíveis and the aquisition of existing shares in the corporate capital of Raízen Combustíveis.
FEMSA Comercio’s 50 per cent interest in the venture is valued at 561 million reais ($141 million).
After the implementation of the transaction, Raízen Combustíveis and FEMSA Comercio will hold, respectively, 50/50 of Raízen Conveniências’ corporate capital. The joint venture will have an independent professional structure and corporate governance.
FEMSA is a Mexican multinational beverage and retail company and operates the largest independent Coca-Cola bottling group in the world, as well as the largest convenience store chain in Mexico, Oxxo, with branches adjacent to many service stations in the country.
TozziniFreire’s team advising FEMSA featured partners Maria Elisa Gualandi Verri (pictured) and Francisco Eumene Machado de Oliveira Neto, and associates Felipe Borges Lacerda Loiola and Verônica Belchior de Sousa Campos.
Raízen Conveniência and Raízen Combustíveis were advised by Pinheiro Neto Advogados.
