Mercuria Nears $1B Takeover of Raízen’s Argentine Refinery and Retail Assets (MRC/RAZ)

Mercuria Energy Group (MRC) is advancing toward acquiring Raízen’s Argentine refining and fuel retail assets, with a signing potentially weeks away and a final deal valued above $1 billion. No binding agreement is in place, though sources say risks remain. The acquisition would expand Mercuria’s downstream presence in South America amid volatile energy markets. Raízen, a joint venture of Cosan and Shell, is under financial stress following consecutive quarters of losses and ballooning debt, leading to a selloff in its bonds and credit downgrades. Fitch rated it “CCC” and S&P “CCC+.” Raízen has appointed Pinheiro Neto and Cleary Gottlieb as legal advisers and Rothschild as financial adviser, signaling preparation for asset sales or restructuring. Vitol has also shown interest in the portfolio.