Business
Nutrien Announces Sale of its Equity Position in Israel Chemicals LTD.
Nutrien Announces Sale of its Equity Position in Israel Chemicals LTD. Canada News...
About this update from Nutrien Ltd.
[{"type":"text","content":"\n\n\n\nNutrien Announces Sale of its Equity Position in Israel Chemicals LTD.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSASKATOON, Jan. 16, 2018\n\n\n\nNYSE, TSX: NTR\n\n\n\nSASKATOON, Jan. 16, 2018 /CNW/ - Nutrien Ltd. (\"Nutrien\") today announced that its wholly-owned subsidiary, Potash Corporation of Saskatchewan Inc., intends to sell 176,088,630 ordinary shares (the \"Shares\") of Israel Chemicals Ltd. (\"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.\n\nThe 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.\n\nNo 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.  By participating in the offering, each purchaser of ordinary shares is deemed to represent and warrant to the selling shareholder that, immediately after giving effect to the offering, neither it nor any of its affiliates (acting alone or as a part of any group (within the meaning of Section 13(d) of the Exchange Act) will (1) become a beneficial owner (as defined pursuant to Rule 13d-3 or Rule 13d-5 under the Exchange Act) of more than 5% of the outstanding ordinary shares of ICL as of the date of the offering or (2) be required to be filed a Schedule 13D or Schedule 13G with the U.S. Securities and Exchange Commission.\n\nThis press release shall not constitute an offer to sell ...