Acquisition of Nitrogenated Fertilizers Plant in Parana

Source: www.gulfoilandgas.com 12/18/2012, Location: South America

Petrobras announces that it has entered into an agreement with Vale S.A. (“Vale”) to purchase 100% of the shares issued by Araucaria Nitrogenados S.A. (“Araucaria Nitrogenados”), located in Araucaria, Parana.

The transaction is worth US$ 234 million and payments will be made using the revenues from the leasing of mining rights owned by Petrobras to Vale, in Sergipe state.

The Araucaria Nitrogenados plant is capable of producing 700,000 tons per year (kta) of urea, 475 kta of ammonia and 450,000 m3/year of Arla 32. The raw material used is asphalt residue, which is supplied by the Presidente Getulio Vargas Refinery (REPAR), in Araucaria.

This plant complements Petrobras’s additional fertilizer assets, allowing for close proximity to markets in Sao Paulo and Parana, greater storage capacity and means of transportation, as well as optimization of the production mix of each plant to meet the demands of their adjacent markets and potential synergies with REPAR.

This acquisition was approved by Petrobras´ Board of Directors in a meeting held and is not subject to approval by the Shareholders Meeting, and thus, there is no withdrawal rights to shareholders, as it does not fit into the conditions foreseen in article 256 of the Brazilian Corporate Law.

Transfer of the control depends on compliance with precedent conditions, including approval from the Brazilian Antitrust Authority (CADE).


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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