Published by Global Banking & Finance Review®
Posted on February 10, 2026
2 min readLast updated: February 10, 2026
Add as preferred source on GoogleMercuria is nearing a $1 billion deal to acquire Raizen's Argentine assets amid Raizen's financial struggles and credit downgrades.
By Luciana Magalhaes and Oliver Griffin
Feb 10 - Swiss-founded energy and commodity company Mercuria Energy Group has advanced in its bid to acquire a refinery and hundreds of gas stations in Argentina from troubled Brazilian sugar-and-ethanol producer Raizen, according to two people familiar with the matter.
One source said that the deal could be closed soon, though there remains a risk it may not be completed. A second source said that the signing could still be a few weeks away, adding that the transaction is likely to surpass $1 billion, though no binding agreement has yet been signed.
One of the two people said that global energy and commodities conglomerate Vitol Group had also previously pursued acquiring the assets of Raizen in Argentina, but talks with Mercuria moved forward.
Mercuria, Vitol and Raizen did not immediately respond to requests for comment.
Bloomberg was first to report that Mercuria was nearing a deal to buy Raizen assets in Argentina.
Raizen, a joint venture between Brazilian conglomerate Cosan and London-listed oil company Shell, has posted a series of heavy quarterly net losses and accumulated high levels of debt.
The mounting financial pressure has triggered a selloff in its bonds and prompted two major credit rating agencies to downgrade the company earlier this week.
Fitch slashed Raizen's credit score first to 'B' and later the same day to 'CCC'. S&P Global Ratings downgraded Raizen to 'CCC+'.
Late Monday, Raizen confirmed that it has appointed law firms Pinheiro Neto and Cleary Gottlieb as legal advisors and Rothschild as its financial advisor.
(Reporting by Luciana Magalhaes and Oliver Griffin)
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control of that company.
Corporate finance deals with the financial activities related to running a corporation, including funding, capital structuring, and investment decisions.
A financial crisis is a situation in which the value of financial institutions or assets drops significantly, leading to widespread economic instability.
The energy market refers to the trading of energy commodities, including oil, gas, and electricity, where prices fluctuate based on supply and demand.
Investment is the act of allocating resources, usually money, in order to generate income or profit over time.
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