Potash Corp to Acquire ICL to Better Access China and Other Asian Markets
Potash Corp, the world’s No. 1 fertilizer producer, is ramping up efforts to buy Israel Chemicals Ltd so it can shore up its leverage with China and India, top consuming countries that are expected to drive much of the industry’s growth.
Although a deal is likely a long way off, acquiring ICL, the world’s sixth-largest fertilizer producer, would give Canada’s Potash Corp better shipping access to China, India and other Asian economies. Rising Asian incomes and populations are expected to trigger greater fertilizer use to produce more food.
– Reuters