Nutrien Announces Sale of its Equity Position in Israel Chemicals

Nutrien (“Nutrien”) today announced that its wholly-owned subsidiary, Potash Corporation of Saskatchewan, intends to sell 176,088,630 ordinary shares (the “Shares”) of Israel Chemicals (“ICL”) – or 100% of Nutrien’s total stake – in a private secondary offering, subject to customary closing conditions. The offering is expected to close on January 23, 2018 (Israel). Nutrien expects to receive approximately US$700 million of net proceeds from the sale of the Shares.

The offering of the Shares has not been, and will not be, registered under the U.S. Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Shares will be offered only to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S.
No sales of Shares are intended to be made to any person that, after giving effect to the offering, results in such person or its affiliates becoming a beneficial owner of more than 5% of the outstanding ordinary shares of ICL.

Click here to read the full text release.