May 29, 2019 / 11:52 PM / in a year

Petrobras says federal court suspends sale of fertilizer units

RIO DE JANEIRO, May 29 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA said on Wednesday that a federal court has issued injunction suspending the sale of its fertilizer units Araucaria Nitrogenados and Fertilizantes Nitrogenados III.

Petrobras said in a securities filing that it would take legal action against the decision and defend the interests of the company and its investors, underlining that its divestment program is key to reducing its indebtedness.

Brazil’s Supreme Court will debate the suspension of Petrobras divestments on Thursday.

Reporting by Anthony Boadle; Editing by Sandra Maler

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