Petrobras starts fertilizer exit

Petrobras starts fertilizer exit

Brazil M&A

Brazil's Petrobras has started the sale process of its fertilizer divisions, Araucaria Nitrogenados (ANSA) and Unidade de Fertilizantes Nitrogenados III (UFN-III).Petrobras acquired ANSA from the mining company Vale for $234m in 2012. Construction of UFN-III is 81% complete, Petrobras said in a statement.The buyer will take on the responsibility of completing construction of UFN-III, Petrobras said. The state-owned company added that it will not supply a long-term natural gas contract.

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