The Leader-Post reported that Western Potash expects that their deal with a Chinese JV company that will see them purchase a 20 percent stake in the company for $32 million will close later this week.
As quoted in the Leader-Post report:
Earlier this month, Vancouver-based Western announced that China BlueChemical Ltd. and Benewood Holdings Corp. Ltd., through a joint venture company, CBC (Canada) Holding Corp., have agreed to acquire 45 million Western shares for 71 cents per common share. The issue price represents a 15-per-cent premium over the 20-day volume-weighted moving average of Western shares, which are traded on TSX under the symbol WPX.
Get Our Expert Guide to Potash Investing FREE!Download this FREE Special Report, What is Potash? From Types of Potash to Potash Stocks