Tel Aviv—Potash Corp. of Saskatchewan Inc. has no plans at this stage to sell its 13.9 percent minority stake in Israel Chemicals Ltd. (ICL) according to PotashCorp CEO Jochen Tilk, who spoke to analysts last week. He said that the company would not sell its stake as long as ICL’s share price were so low. The news helped boost ICL’s stock up by 6 percent. The share price is currently 12 percent above its 12-month low. Psagot analyst Ilanit Sherf said that Tilk’s remarks could be viewed as a signal to the Israeli government to hold another round of talks on the approval of a proposed deal for PotashCorp to acquire ICL. In 2013, PotashCorp attempted to purchase a majority stake in the company, but the move was thwarted by then Finance Minister Yair Lapid. Meanwhile, ICL is continuing its efforts to focus on fertilizers and industrial chemicals. The company’s ICL Industrial Products division announced the sale of its Clearon Corp. business unit to Hui Yu Xin American Corp, a subsidiary of China’s Dalian Hui Yu Xin Technology Development Co. Ltd. Clearon is a leading manufacturer and supplier of water treatment chemicals for the pool and spa industry.
Transparency Across the Fertilizer Value-Chain