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Petrobras moves closer to fertilizer plant sale

A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro

SAO PAULO (Reuters) - Brazil's Petrobras said on Monday it had started the binding phase of selling its fertilizer project UFN-III, inviting potential buyers to bid on the plant.

The sale comes a few months after the state-run oil firm failed to reach a deal with Russia's Acron for the project, located in Mato Grosso do Sul state.

(Reporting by Peter Frontini and Carolina Pulice; Editing by Sandra Maler)