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REFILE-Potash Corp raises Israel Chem stake to 13.9 pct
February 7, 2010 / 10:10 AM / in 7 years

REFILE-Potash Corp raises Israel Chem stake to 13.9 pct

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(Corrects spelling of "Potash" in headline)

TEL AVIV, Feb 7 (Reuters) - Potash Corp of Saskatchewan (POT.TO) bought an additional 1.4 percent of fertiliser and specialty chemicals maker Israel Chemicals (ICL) (ICL.TA), raising its stake to 13.9 percent, ICL said on Sunday.

Potash Corp, the world's largest fertiliser company and largest producer of potash, bought 18.5 million shares of ICL at 47 shekels a share, or a total of 870 million shekels ($232 million).

Potash Corp now owns nearly 176.1 million shares of ICL, the world's sixth-largest producer of potash and the second-largest company listed on the Tel Aviv Stock Exchange.

On Jan. 28 Potash Corp said it had bought an additional 1 percent of ICL, bringing its stake then to 12.5 percent.

Shares in ICL were down 1.9 percent at 46.97 shekels in midday trading in Tel Aviv. (Reporting by Tova Cohen; Editing by David Holmes) ($1 = 3.75 shekels)

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