Tel Aviv — The economic daily newspaper Globes reports that Israel’s State Comptroller Yosef Shapira is considering a review of the decision-making process at the Finance Ministry in connection with the attempt by Potash Corp. of Saskatchewan Inc. to acquire a majority stake in Israel Chemicals Ltd. (ICL). Then Finance Minister Yair Lapid rejected the bid by PotashCorp, saying that it was not in the national interest. The state has the right to intervene in such a deal due to the “golden share” it holds following the company’s privatization back in the 1990s. Under the proposed deal, PotashCorp committed to retaining the Israeli work force of the company. The preliminary investigation includes all documentation and position papers of the various finance ministry officials involved in the proposed deal at the time. The initial proposal by PotashCorp came in late 2012, and negotiations took place for several months. PotashCorp continues as a minority shareholder at 14 percent.
Transparency Across the Fertilizer Value-Chain