Israel Chemicals (ICL) said on Thursday it reached an agreement to sell its 50 percent stake in water desalination firm IDE Technologies for $178 million.
ICL, a top global supplier of potash, has been looking for months for a buyer, and 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 .
The deal is expected to close during 2017.
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.
By Ari Rabinovitch
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
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