You are here

CORRECTED-Brazil's Cosan says JV with Mexico's FEMSA to open 500 stores

(Corrects to clarify that stores to be opened are both OXXO and Select, not only OXXO)

SAO PAULO, Aug 13 (Reuters) - Brazil's energy and logistic group Cosan SA said on Tuesday the joint venture formed between Raízen and Mexico's FEMSA to explore the convenience market in Brazil will open 500 stores with the OXXO and Select brands in the next three years.

Cosan is a partner of Royal Dutch Shell Plc in the JV Raízen, who signed the deal with FEMSA earlier this month. The new venture, valued at 1.12 billion reais ($283.12 million), will also manage the Select stores at Shell service stations in Brazil.

($1 = 3.9559 reais) (Reporting by Marcelo Teixeira Editing by Chizu Nomiyama and Howard Goller)

© Copyright Thomson Reuters 2019. Click For Restrictions -

Read more about

Tip of the Day

Tech Tip: Test Used Technology ASAP 

When you buy a used item, whomever you buy it from will, in general, be fair with you. “However, if you buy an item and are not going to... read more

Talk in Marketing

Most Recent Poll

Do you use a drone on your farm?