Petrobras fails to sell fertilizer units

Petrobras fails to sell fertilizer units

M&A Corporate & Sovereign Strategy Energy Brazil Russia

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

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