LatinNews Daily - 05 June 2026

*Raízen, the Brazilian sugar and ethanol producer and fuel distribution company co-owned by Brazilian conglomerate Cosan and British oil giant Shell, has announced that its subsidiary Raízen Energia plans to sell off assets in Argentina. In a deal that is expected to be worth US$1.42bn, Raízen Energia intends to sell its downstream operations in Argentina, including an oil refinery and gas stations, to two companies: Latam Downstream Holdings and Silver Projects, both of which are subsidiaries of Mercuria, a Switzerland-headquartered multinational commodity trading group domiciled in the Cayman Islands. According to media reports, Raízen has been facing financial difficulties due to factors such as high capital spending and climate-related issues that have impacted sugarcane crop harvests. If the sale is completed, the buyers will also take on the net debts of Raízen’s Argentine assets. According to a Raízen statement, the deal is expected to be closed within the 2026/2027 harvest cycle.