Potash Corp in talks acquire Israel Chemicals

Potash Corp in talks to acquire Israel Chemicals

9:40 AM, 2nd November 2012
Potash Corp in talks to acquire Israel Chemicals

SASKATOON, CANADA/TEL AVIV, ISRAEL: Potash Corp, the world’s No 1 fertiliser producer, confirmed on 31 October 2012 that it has been in talks with Israeli officials on acquiring Israel Chemicals (ICL). To get a deal done it would need approvals from the Finance Ministry’s Government Companies Authority, the prime minister and the Antitrust Authority to increase its 13.84 per cent stake in ICL.

Potash Corp is seeking to buy ICL to shore up its leverage with China and India, top consuming countries that are expected to drive much of the industry’s growth. Acquiring ICL would give Potash Corp better shipping access to China, India and other Asian economies. Rising Asian incomes and populations are expected to trigger greater fertiliser use to produce more food.

© Reuters 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

Tosoh invests $63 million to double vinyl chloride capacity

TOKYO, JAPAN: Tosoh Corp has decided to increase capacity at its No 3 vinyl chloride monomer unit at Nankai plant by 50 per cent to 600,000 tonne per ...

Read more
Perstorp appoints Fabrice Fouletier as Chairman

PERSTORP, SWEDEN: Lennart Holm, Chairman of the Board, Perstorp, has decided to leave the company. He will be replaced by Fabrice Fouletier, PAI partn ...

Read more
Chemical companies resume operations after Sandy storm

NEW YORK/CHICAGO, US: After Hurricane Sandy bashed the East Coast with wind, flooding and a blizzard, companies scrambled to assess the damage. Chemic ...

Read more
Enterprise begins service at Crude Houston storage terminal

HOUSTON, US: Enterprise Products Partners LP has completed the initial phase of its Enterprise Crude Houston (ECHO) storage terminal in Harris County, ...

Read more
KBR, Southern Company collaborate for gasification technology

HOUSTON, US: KBR and Southern Company subsidiary, Southern Generation Technologies will collaborate to expand the global adoption of Transport Integra ...

Read more
CF invests $3.8 billion in two ammonia and urea facility in US

DEERFIELD, US: CF Industries Holdings will construct new ammonia and urea (UAN) production units at its complex in Donaldsonville, Louisiana, and new ...

Read more
www.worldofchemicals.com 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