Mercuria Energy Group Ltd. will acquire the Dock Sud refinery and about 700 service stations from Raízen SA in a $1.42 billion deal.
Mercuria Energy Group Ltd. agreed to purchase one of Argentina's largest refineries and a network of hundreds of service stations from Brazilian firm Raízen SA. The transaction, valued at $1.42 billion, followed competition with Vitol Group. The deal covers the Dock Sud refinery near Buenos Aires and around 700 service stations. The transaction is scheduled to close this year, subject to regulatory approvals. Mercuria stated that Argentina represents an important energy market with significant growth opportunities. The operation will create a third integrated oil producer in the country, behind YPF SA and Pan American Energy Group.
