Canada’s PotashCorp confirms talks to increase stake Israel Chemicals

31 October 2012 14:20  [Source: ICIS news]

TORONTO (ICIS)--Canadian fertilizer major Potash Corporation on Saskatchewan (PotashCorp) is in talks to increase its stake in Israel Chemicals, it said on Wednesday.

PotashCorp, which already holds a stake of about 14% in Israel Chemicals, was confirming a notice about those talks by Israel Chemicals to the Tel Aviv stock exchange.

No deal has been formulated, there is no assurance that a deal will be reached, or that parties will sign an agreement," PotashCorp said.

Canada's Globe and Mail newspaper reported earlier on Wednesday that PotashCorp CEO Bill Doyle met Israel’s Prime Minister Benjamin Netanyahu to discuss a possible acquisition of Israel Chemicals.

PotashCorp media officials could not immediately be reached for additional comment.

In June, a PotashCorp official told ICIS that the company had dropped plans to increase its stake in Israel Chemicals because of regulatory delays its was facing as a foreign buyer.

Additional reporting by Frank Zaworski

By: Stefan Baumgarten
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