Potash Corp confirms reports of its interest in Israel's ICL

Wed Oct 31, 2012 10:25am EDT
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TORONTO (Reuters) - Potash Corp of Saskatchewan POT.TO acknowledged on Wednesday that it has held talks with Israeli government officials around potentially increasing its ownership stake in Israel Chemical Ltd (ICL) ICL.TA.

The world's largest fertilizer company issued a statement on the matter after ICL's majority shareholder, Israel Corp Ltd ILCO.TA, in a regulatory filing confirmed media reports of these discussions.

In a brief statement, Potash Corp said: "No deal has been formulated; there is no assurance that a deal will be reached, or that parties will sign an agreement."

The Saskatoon, Saskatchewan-based fertilizer maker said it does not intend to comment further on this matter at this time. (Reporting by Euan Rocha; Editing by Gerald E. McCormick)

Potash Corp's head office in Saskatoon is pictured on November 3, 2010. REUTERS/David Stobbe