Canadian fertilizer producer Potash Corporation of Saskatchewan (TSX: POT, NYSE: POT) has confirmed today that as "Globes" reported yesterday, it bought a portion of the large block of Israel Chemicals Ltd. (TASE: ICL) shares that were distributed by UBS in recent days.
Potash held 11.35% of Israel Chemicals, led by CEO Akiva Mozes, before its recent purchases. As a party at interest in the firm, Potash had to notify the Tel Aviv Stock Exchange (TASE) of its increased stake.
Potash now owns 12.35% of the company.
Potash bought 14 million shares of Israel Chemicals, including 8 million sold by Israel Chemicals parent company Israel Corp. (TASE: ILCO).
The Canadian company said that it bought a block of shares at NIS 49.90 per share, and a second block at NIS 49.57 per share.
UBS earned a profit of at least about NIS 4.6 million just in the past two days as it bought and then resold the shares.
Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
You comment was recieved and soon will be published.
Thank you for posting your comment, which will be reviewed for publication.
Load more comments