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Petrobras Starts Binding Phase of Araucária Nitrogenados S.A.

Source: www.gulfoilandgas.com 10/30/2020, Location: South America

Petrobras, following up on the press release disclosed on September 17, 2020, informs the beginning of the binding phase regarding the sale of all its shares in the wholly-owned subsidiary Araucária Nitrogenados S.A. (ANSA).

Potential buyers qualified for this phase will receive instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure complies with Petrobras' internal rules and the special regime of asset divestment by federal mixed capital companies, provided for in Decree 9,188/2017.

This transaction is in line with the portfolio strategy optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.

About Araucária Nitrogenados S.A.
ANSA has an industrial unit of nitrogen fertilizers located in Araucária, in the state of Paraná. With a production capacity of 1,975 tons/day of urea and 1,303 tons/day of ammonia, the plant is currently mothballed. The resumption of the plant's production or its transformation for another purpose will be the responsibility of the potential buyer.

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