Issue Date: January 6, 2014
Israel’s ICL Buys Brazilian Business
ICL, a leading Israeli chemical maker, is buying a 44% stake in the purified phosphoric acid maker Fosbrasil from Brazilian mining firm Vale for $52 million. With its existing holdings, ICL will now have a majority interest in the company. ICL says the operation will complement its phosphate assets in the U.S., Mexico, Germany, Israel, and China. Phosphoric acid is used in beverage, food processing, and industrial applications. The transaction will be reviewed by Brazilian antitrust authorities.
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