December 19, 2012
Petrobras has agreed to buy 100% of the Araucaria Nitrogenados fertilizer p
Petrobras has agreed to buy 100% of the Araucaria Nitrogenados fertilizer plant from Vale, it says, for $234m. The state-controlled oil producer will pay the miner using the revenues from the leasing of mining rights owned by Petrobras to Vale. Petrobras says the plant, located in the state of Parana is complementary to its existing fertilizer production assets. The transaction is subject to regulatory approvals.