Petrobras looks to lease fertilizer units

Petrobras looks to lease fertilizer units

M&A Energy Economy & Policy Brazil

Brazil's Petrobras said it has opened the bidding process for two fertilizer plants and a fertilizer port terminal. The state-owned energy company is looking to lease nitrogen fertilizer plants in the state of Bahia and Sergipe, along with the ammonia and urea maritime terminals at the Port of Aratu in Bahia. Petrobras cannot sell the units after a justice on the Supreme Federal Court blocked asset sales without congressional approval. The two plants recorded BRL800m ($216m) in losses in 2017.

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