November 27, 2019
Brazil's Petrobras said it has ended talks to sell two fertilizer businesses to Russia's Acron Group without reaching a deal.
The state-owned oil company added, however, that it still plans to sell its 100% stakes in Araucária Nitrogenados (ANSA) and Unidade de Fertilizantes Nitrogenados III (UFN-III).
Petrobras started negotiations with Acron in May last year. It postponed the talks when the Federal Supreme Court, or STF, ruled that state-owned companies needed congressional approval to sell as
Brazil's state-owned oil company ends talks with Russia's Acron Group without a deal