ICL acquiring purified phosphoric acid venture Vale Fertilizantes shares

ICL to acquire Vale Fertilizantes’s share in Fosbrasil

9:27 AM, 26th December 2013
ICL acquiring purified phosphoric acid venture Vale Fertilizantes shares

TEL – AVIV, ISRAEL: ICL, a global unique minerals based products producer, has entered into a definitive agreement to acquire Vale Fertilizantes’s share in Fosbrasil SA, a joint venture producing purified phosphoric acid and raw materials for fertilizers located in Brazil. The proposed transaction is subject to the approval of Brazilian competition authorities (CADE) and other customary approvals. The purchase of Vale’s shares will increase ICL’s ownership share to a majority position in a major producer of phosphoric acid in South America.

“This acquisition complements ICL’s global position in phosphoric acid and phosphates. It is the next step in the global expansion strategy that we have been following for the past decade, carrying out complementary acquisitions that have transformed our Company into a rapidly-growing major global player in the essential needs areas of food, engineered materials, and agriculture,” said Mark Volmer, President and CEO, ICL Performance Products.

 

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