Raízen, the shared risk society of the multinational Shell and the Brazilian Cosan, and the Mexican FEMSA, operator of the Oxxo convenience stores, announced this Thursday the end of the joint society they have maintained since 2019 to operate the Nós group in Brazil.
In a Raíen statement, he pointed out that the decision was taken “friendly, strategic, planned and jointly”, and is subject to the approval of the Brazilian anti -competition body, in addition to compliance with the previously established contractual conditions.
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FEMSA will assume total control of Oxxo stores in Brazil, consolidating their presence in the country as part of its global strategy, which includes more than 25,000 establishments in Latin America and the United States.
Root, on the other hand, will resume the integral management of Shell Select and Shell Café stores, with about 1,300 units, focusing on convenience solutions for their fuel distribution network.
According to the note, the separation aims to strengthen the performance of both companies in their respective markets, “maintaining operational continuity and compliance with all previously assumed financial obligations.”
With EFE information
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