We advised Raízen Combustíveis S.A. and its subsidiary Raízen Argentina Holdings S.A.U, both part of the Raízen Group of companies (“Buyers”), in the acquisition of Shell’s downstream business (“DS”) in Argentina by acquiring 100% of the shares issued by Shell Compañía Argentina de Petróleo S.A. and Energina Compañía Argentina de Petróleo S.A. (“Acquired Companies”), all owned by Shell Overseas Investments B.V. and B. V. Dordtsche Petroleum Maatschappij (“Sellers”) (“Transaction”). The Acquired Companies operate in Argentina, mainly in the businesses of oil refining, fuel distribution, among others.
The total amount to be paid by the Buyers to the Sellers for the Transaction, already considering adjustments as established in the Purchase Agreement, is US$916 million. Of this amount, (i) US$100 million were advanced as a deposit on April 24, 2018, (ii) US$370 million were paid on this date and (iii) US$446 million will be paid on or before December 2019. The total amount is subject to minor price adjustments based on the completion date financial statement.
In compliance with Argentine antitrust laws, the Transaction will be notified to the Argentine antitrust authorities within a week of the date hereof.