ICL Closes Acquisition Of Fosbrasil

(RTTNews) - Israel Chemicals Ltd. or ICL (ICL) said it has completed its previously announced acquisition of Vale Fertilizante's equity holding in Fosbrasil S.A.

ICL and Vale were former joint venture partners in Fosbrasil. With ICL's acquisition of Prayon S.A's minority position in Fosbrasil, ICL now owns 100% of Fosbrasil.

ICL said it entered into a definitive agreement to acquire Vale's share of Fosbrasil in December 2013 pending regulatory approval which was recently received.

The acquisition of all of Fosbrasil represents an additional step in ICL's implementation of its "Next Step Forward" strategy to strengthen ICL's core business activities in the food, agriculture and engineered materials markets, and to increase its activities in emerging markets, including Brazil, China, India and Africa, which are the primary focus for achieving the company's strategic goals.