Raízen sells refining and distribution operations in Argentina for US$1.42 billion.

Raízen announced this Thursday (4) that its subsidiary Raízen Energia has signed an agreement to sell its refining and fuel distribution operations in Argentina to Grupo Mercuria Energy. The transaction value was set at US$ 1.42 billion. According to a statement sent to the United States Securities and Exchange Commission (SEC), the amount will be paid in full in cash upon closing of the transaction, subject to the usual adjustments foreseen in contracts of this type, including variations in working capital, net debt and other conditions established between the parties. In addition to acquiring the assets, Grupo Mercuria will also assume the debt of Raízen Argentina SAU, the subsidiary responsible for the company's operations in the country.

This text was translated by machine from Brazilian Portuguese.