Petrobras Energy Sells Argentina Fertilizer Unit To Bunge
BUENOS AIRES -(Dow Jones)- Petrobras Energy SA (PZE), a subsidiary of
Brazilian state-run energy giant Petroleo Brasileiro SA (PBR), or Petrobras,
sold its fertilizer operations in Argentina to the Argentine unit of Bunge Ltd.
(BG), Petrobras said Wednesday.
The sale is part of the "company's strategy to constantly evaluate its
portfolio of business and assets in order to identify opportunities to maximize
the company's value," Petrobras said in a press release.
The sale price was not disclosed. A company spokesman could not be reached for
comment.
Petrobras acquired the fertilizer unit in 2002, when it bought PeCom Energia.
Last year, the plant in Campana had sales of about $200 million, 14% more than
in 2007.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@
dowjones.com
(END) Dow Jones Newswires
11-18-091742ET
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