Petrobras Puts Araucaria Nitrogenados up for Sale

Posted on 11/03/2020

Petróleo Brasileiro S.A., also known as Petrobras, launched the binding phase for the sale of all its shares in the wholly-owned subsidiary Araucaria Nitrogenados S.A. (ANSA). Araucaria Nitrogenados owns a fertilizer plant in the Brazilian state of Parana.

Petrobras has been seeking to sell ANSA for years as the company has generated losses since Petrobras bought it in 2013. Russia-based Acron Group expressed interest in ANSA, but talks were dropped in November 2019.

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