Getting your Trinity Audio player ready...
OSLO, April 2 (Reuters) – Norway’s Yara said on
Monday it had agreed to invest about 40 million Canadian dollars
($40.0 million) in a 19.9 percent stake in Canada’s IC Potash
Group (ICP) in a private placement transaction.
Yara, the world’s biggest nitrogen-based fertiliser maker,
said it would aquire 30.13 million common shares in ICP at a
price of $1.32 per share.
The firm said it had also entered into an off-take
arrangement for 30 percent of all products produced by ICP’s
Ochoa project in New Mexico for a period of 15 years, and
discussed the possibility of establishing a jointly held entity
for the purpose of marketing the project’s products.
