Russia's PJSC Acron is in talks with Brazil's Petroleo Brasileiro SA for the potential acquisition of the latter's two fertilizer units, Reuters reported May 9, citing the state-controlled oil company.

Fertilizer producer Acron sells products in more than 60 countries, the report added.

The exclusive 90-day discussions will revolve around the potential sale of Araucaria Nitrogenados SA and Nitrogen Fertilizer Unit III.

In December 2017, Petroleo Brasileiro announced it was entering the binding phase for the sale of the two units.