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Israel Chemicals to acquire Vale's share in Fosbrasil

2:02 AM MST | December 23, 2013 | Natasha Alperowicz

Israel Chemicals Ltd. (ICL; Tel Aviv) today announced that it has entered into a definitive agreement to acquire Vale Fertilizantes’ share in Fosbrasil, a joint venture producing purified phosphoric acid and raw materials for fertilizers located in Brazil. The proposed transaction is subject to the approval of Brazilian competition authorities and other customary approvals.The purchase of Vale’s shares make ICL the majority owner in a large producer of phosphoric acid in South America.    The transaction supports ICL’s new strategy The...

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