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Israel Chemicals sells stake in desalination firm IDE for $167 mln [Reuters]

ISRAEL CHEMICALS LTD (ICL)  More Company Research Source: Reuters
Last israel chemicals ltd earnings: 8/1 01:31 am Check Earnings Report
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PDF Israel Chemicals sells stake in desalination firm IDE for $167 million | Reuters Reuters Staff 1 Min Read JERUSALEM (Reuters) - Israel Chemicals (ICL) ( ICL.TA ) said on Sunday it completed a sale of its 50 percent holding in water desalination firm IDE Technologies for $167 million. The final price was below an initial agreement of $178 million, ICL said in a statement to the Tel Aviv Stock Exchange. ICL ( ICL.N ) said it expects to post a capital gain of $40 million in the fourth quarter from the sale. ICL, a top global supplier of potash, said in June that it reached a deal with a limited partnership whose general partner is a company controlled by IDE’s own chief executive, Avshalom Felber. The partnership also includes institutional bodies from Israel’s Clal Insurance ( CLIS.TA ). IDE, which has built major desalination plants in the United States, Israel, India and China, is jointly owned by ICL and Israeli conglomerate Delek Group ( DLEKG.TA ). Reporting by Steven Schee [Read more]

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