The businessmen José Luis Manzano and Daniel Vila They are close to adding a new acquisition to their diversified business portfolio. In partnership with the Swiss Mercuria, they offered around US$1.4 billion to take over the Shell brand service stations, currently operated by the Brazilian Raízen, as LA NACION learned. Company sources, however, said they were not aware of the negotiations.
The more than 700 outlets Shell Today they represent 19% of the fuel delivery market in Argentina, behind YPF (55%) and above Axion (14%) and Puma Energy (7%).
The former Minister of the Interior of Carlos Menem It was in the news recently, after purchasing, together with Gustavo Scaglione from Rosario, the Telefé operation. The transaction was structured through its investment fund, Integra Capital.
Last month, furthermore, Manzano sold 50% of his stake in Refinor to YPF for US$25.2 millionwhich came to control the entire share package of the company. The operation was also carried out together with the Integra fund and marked the definitive departure of the businessman from the fuel and gas marketer in the north of the country.
Now, Manzano seeks to return to the business of downstream together with Mercuria Energy Group, one of the largest independent energy companies in the world, based in Switzerland. The partnership between both parties already exists through Phoenix Global Resourcesthe oil company that stood out for being the first to produce unconventional oil in Río Negro. Manzano owns 6% of the share capital through his firm Andes Energíawhile the rest belongs to Mercuria.
Raízen, for its part, is a joint venture created in 2011 between Shell (50%) and Cosan (50%), leader in sugar, ethanol and bioenergy production in Brazil. In 2018 it took full control of the license of the Shell service stations and the Dock Sud refinery.in Avellaneda. Two years later, it announced a US$715 million investment to expand processing capacity and develop a new line of low-sulfur fuels.
The decision to sell responds to the bad results that the company recorded in Brazilwhich forced it to get rid of several assets, as explained by its CEO, Nelson Gomes. In the last year, Raízen’s shares on the San Pablo stock market fell 70%.
The assets in Argentina had aroused interest from several business groups, including the multinational Trafigura -owner of the Puma Energy stations-, the Dutch Vitol and the local CGC, from the Eurnekian family. However, none presented a financial offer higher than that of the consortium made up of Manzano, Vila and Mercuria.
The Swiss company has the unconventional concession of Mata Mora, in Neuquén, and that of Confluencia, another Vaca Muerta field, adjacent to the previous one, but in Río Negro. Both blocks have a total area of 500 square kilometers and produce more than 13,000 barrels of oil per day. In addition, it has mature assets in Mendoza and reaches a total production of 16,000 barrels per day. Since 2020, it has invested US$550 million in the country and has 90 employees.
