Reuters: Mergers News: Yara buys 20 pct stake in Canada's IC Potash Group

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Yara buys 20 pct stake in Canada's IC Potash Group Apr 2nd 2012, 06:17 OSLO, April 2 | Mon Apr 2, 2012 2:17am EDT 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.

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