BREAKING NEWS

Erdan: Canadian firm should not merge with Israel Chemicals

MARCH 18, 2013 02:48

Outgoing Environmental Protection Minister Gilad Erdan sent a letter to Prime Minister Binyamin Netanyahu this weekend, expressing vehement opposition to a potential merger between Israel Chemicals and a Canadian natural resource firm that has shares in the Israeli company.

Israel Chemicals, the firm responsible for the majority of mineral extraction on the Israeli side of the Dead Sea, has three categories of shareholders: Israel Corp., which owns 52.30 percent, Potash- Corp Agricultural Society Ltd. – held by Potash Corporation of Saskatchewan, Canada – which holds 13.85% and members of the public and other institutions who govern 33.85%.

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