Tel Aviv-PotashCorp continues to increase its stake in Israel Chemicals Ltd. On Friday, Feb. 5, the company purchased 18.5 million shares of ICL at a price of $12.68 per share. The additional shares represent 1.4 percent, increasing the company’s current stake to 13.9 percent. The cost of the most recent transaction was $234.6 million. PotashCorp now owns 176.1 million shares of ICL. In late January, PotashCorp spent $186.6 million for an additional 1.1 percent of ICL, bringing its stake up to 12.46 percent (GM Feb. 1, p. 10).
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