Raízen () reported on Thursday, 4, that, in agreement with FEMSA Comércio, it decided to end the corporate partnership established in 2019 through the joint venture Integrated Network of Convenience and Proximity stores (NOS Group).
In a statement sent to the Securities Commission (CVM), the company states that the agreement to terminate the joint venture was structured based on the exchange of corporate interest, without any payment between the parties.
Raízen will receive 1,256 convenience stores Shell Select and Shell Café and will continue to develop the offer through the priority franchise model, integrated into its Shell Post Network.
FEMSA will receive 611 Oxxo proximity markets and the Distribution Center (CD), located in the city of Cajamar (SP), as well as debts and cashier available in the NOS Group.
As part of the agreement, the NOS Group will continue to provide supply and logistics services related to the product portfolio currently provided by their CD, within its coverage area, to Shell Select and Shell Café stores.
“This decision is aligned with Raízen’s recycling and simplification strategy, allowing greater focus and agility in the execution of its Integrated Shell offer,” the company says in the statement.
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The conclusion of the operation is subject to approval by the Administrative Council for Economic Defense (Cade), as well as the fulfillment of the other preceding conditions established in the contracts.
