RIO DE JANEIRO, BRAZIL – Raízen, a COSAN (CSAN3) subsidiary, has announced the acquisition of Shell’s entire lubricants business in Brazil.
The company has been operating as Shell’s exclusive lubricants sales agent since 2011 through a 10-year contract signed between the two companies.
With the contract’s expiration, Raízen and Shell expanded the scope of their relationship, which resulted in the purchase of the lubricants business by Raízen.
The transaction includes the lubricant blending plant located on Ilha do Governador and the Duque de Caxias base, both in Rio de Janeiro, as well as the distribution chain and its respective contracts.
The acquisition will be subject to approval by the Administrative Council for Economic Defense (CADE), Brazil’s competition agency and is subject to compliance with other conditions precedent.
Raízen has taken its first steps toward a listing on the stock exchange. On Thursday, June 3, the company announced that it has filed a registration request for an initial public offering (IPO).