THE Petrobras (PETR3;PETR4) informed this Tuesday (24th) that it ended the competitive process for the full sale of Unit of Nitrogenated Fertilizers III (UFN-III).
The divestment process was in the binding phase, with potential buyers receiving guidance on carrying out due diligence and for sending binding proposals.
Petrobras said that it will now evaluate the next steps related to the divestment of the asset, in line with the current strategic plan for 2023-2027.
Petrobras reinforced its commitment to “widespread transparency of its divestment projects and portfolio management”.
UFN-III is an industrial unit of nitrogen fertilizers located in Três Lagoas, Mato Grosso do Sul. The construction of UFN-III began in September 2011, but was interrupted in December 2014, with physical progress of around 81%.
Once completed, the unit will have a projected urea and ammonia production capacity of 3,600 t/day and 2,200 t/day,
respectively, Petrobras said.
Source: Moneytimes
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