Brazil’s Raízen Energia is close to buying Shell's Argentina gas station network for more than $1bn, according to people familiar with the plan. Raízen’s bid beat those by Argentine oil company YPF, Chile’s Quinenco and China National Petroleum Corp’s Petrochina. Raízen controls Brazil’s second-largest chain of gasoline stations. Shell and Brazil’s Cosan SA Industria & Comércio each own 5.3 percent of the joint venture.
Brazil’s Raízen Energia is close to buying Shell's Argentina gas station network for more than $1bn, according to people familiar with the plan. Raízen’s bid beat those by Argentine oil company YPF, Chile’s Quinenco and China National Petroleum Corp’s Petrochina. Raízen controls Brazil’s second-largest chain of gasoline stations. Shell and Brazil’s Cosan SA Industria & Comércio each own 50% of the joint venture.