Israeli Finance Minister, Yair Lapid, opposesale ICL

Israeli Finance Minister, Yair Lapid, oppose the sale of ICL

5:33 AM, 15th April 2013
Israeli Finance Minister, Yair Lapid, oppose the sale of ICL
Israeli Finance Minister Yair Lapid said he will set up a panel to rethink the state’s rights in natural resources that are managed by private companies.

TEL AVIV, ISRAEL: Israeli Finance Minister Yair Lapid said he’d “adamantly oppose” the sale of fertilizer producer Israel Chemicals Ltd (ICL) to Canada’s Potash Corp of Saskatchewan Inc, threatening to block what would be the Middle East’s biggest takeover. Lapid also put Israel Chemicals and other resource developers on notice that he would reconsider how they’re taxed.

The acquisition of Israel’s second-largest publicly traded company would create the world’s biggest producer of potash, a nutrient that helps crops withstand drought and strengthens plant root systems. According to Potash Corp, it is seeking to gain majority control of Israel Chemicals, in which it held a 14 per cent stake.

“Israel’s natural resources are a public asset and the Israeli public should be the first to benefit from them,” said Lapid in an e-mailed statement to Bloomberg News.

© Bloomberg News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

DKSH, Pfizer form joint venture in Cambodia

PHNOM PENH, CAMBODIA: DKSH Business Unit Healthcare has signed an agreement to provide marketing and sales, logistics, distribution, credit manageme ...

Read more
Praxair starts new air separation plant in Brazil

DANBURY, US: White Martins, the Brazil-based subsidiary of Praxair Inc, has started up a new air separation plant in the state of Mato Grosso, in Br ...

Read more
ONGC, Chambal Fertiliser to build urea plant in Tripura, India

NEW DELHI, INDIA: India’s largest oil and gas exploration firm, Oil and Natural Gas Corp (ONGC), announced a foray into the fertiliser sector ...

Read more
Solvay to build specialty surfactant plant in Genthin, Germany

BRUSSELS, BELGIUM: Solvay will build a specialty surfactant plant at an industrial park in Genthin, Germany, close to Berlin. The unit will develop ...

Read more
Praxair acquires carbon dioxide business of Tri-State Carbonic

DANBURY, US: Praxair Inc announced the acquisition of Tri-State Carbonic’s merchant carbon dioxide (CO2) business in Lawrenceburg, Indiana. Fi ...

Read more
BASF, Toyo partner for engineering services in Asia Pacific

TOKYO, JAPAN: Toyo Engineering Corporation has concluded a comprehensive engineering partnership agreement with BASF in Asia Pacific. The agreement co ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X