November 19, 2009

Petrobras Energy SA, a subsidiary of Brazilian state-run energy giant Petroleo Brasileiro SA (PBR), or Petrobras, sold its fertiliser operations in Argentina to the Argentine unit of Bunge Ltd. (BG), Petrobras said Wednesday (November 18).

The sale is part of the "company's strategy to constantly evaluate its portfolio of business and assets in order to identify opportunities to maximise 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 US$200 million, 14 percent more than in 2007.