August 26, 2010 / 7:53 AM / 7 years ago

CORRECTED - CORRECTED-Sinofert exec says BHP bid for Potash to have big impa

(Corrects translation of quote in first and fifth paragraphs to “closely watching” from “very concerned about”)

HONG KONG, Aug 26 (Reuters) - China’s largest fertiliser distributor Sinofert Holdings Ltd 0297.HK is “closely watching” BHP Billiton Plc’s BHP.AX $38.6 billion takeover offer for Potash Corp POT.TO, and believes the potential deal will have a big impact on the company, a top executive said on Thursday.

Speculation lingers that Sinofert’s parent Sinochem may join a rival bid to counter BHP Billiton’s BLT.L $38.6 billion takeover offer for Potash Corp.

Sinofert Chief Executive Feng Zhibin did not immediately comment on speculation that Sinochem may be involved in a bid for Potash Corp.

BHP Billiton’s hostile bid for Potash Corp, the world’s top potash producer, has triggered fears that if BHP succeeds it will ditch the prevailing annual contract potash pricing system in favour of a market-based approach.

“No matter what, Sinochem and Sinofert are closely watching Potash,” Feng told reporters at a results briefing on Thursday.

“Potash is a major shareholder in Sinofert, and it will have a big impact.”

For results statement please click here 0826111.pdf (Reporting by Alison Leung; Editing by Chris Lewis)

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