Italian-Thai Development (ITD) said the company is entering the “final stages” of negotiations with an investor for its Thailand potash mining unit, Asia Pacific Potash Corp., according to Bloomberg, citing an exchange filing.
ITD said the investor passed the selection process by offering partial co-investment in the mining unit. The company said it would disclose details to the stock exchange after finalizing the negotiation. ITD issued the statement after Bloomberg reported that China’s SDIC Mining Investment Co. is in advanced talks for a significant minority stake in the unit (GM May 24, p. 27).