Brazil fertiliser asset sales move forward

BRASíLIA, May 10, 2018 – Brazil’s antitrust regulator, known as Cade, has authorised the sale of a Vale fertiliser complex to Norwegian firm Yara, international media reported Wednesday.

The USD 255-million cash deal was approved almost unanimously by Cade’s seven-member board without any alterations to the original agreement.

Initially set forth last November, the sale has been under analysis by Cade because NOC Petrobras earlier this year announced it would shelve plans for two new fertiliser plants that would have accounted for about 50% of Brazil’s ammonia consumption, therefore changing market share calculations.

Separately, on Wednesday Petrobras announced that it is in talks to sell two of its fertiliser units to Russia’s Acron. The negotiations will centre on the transfer of the Araucaria Nitrogenado and Nitrogen Fertilizer Unit III plants.

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