PotashCorp Reviews SQM, ICL Holdings

PotashCorp of Saskatchewan is considering whether its investments in SQM and Israel Chemicals Ltd. make long-term sense. The company has a 32% stake, worth about $2.2 billion, in SQM, a Chilean iodine, lithium, and potassium supplier. Its 14% interest in ICL, an Israeli fertilizer and bromine chemicals maker, is valued at about $1.3 billion. In March, three PotashCorp-appointed directors resigned from SQM’s board over what they saw as inadequate review by SQM’s management of a tax probe and allegations of wrongdoing. In contrast, PotashCorp says its investments in Jordanian and Chinese fertilizer suppliers are a good strategic fit.