Potash Corp. of Saskatchewan Inc. said it may sell some assets, including equity stakes in associated fertilizer makers such as Israel Chemicals Ltd., as it seeks to grow through acquisitions.
“There is a possibility we would do that, specifically on equity investments, so I would not exclude that,” Potash Corp. Chief Executive Officer Jochen Tilk said Thursday, referring to stake sales in response to a question on a conference call.
Saskatoon-based Potash Corp., the world’s largest fertilizer producer by market value, is seeking to acquire German rival K+S AG, which earlier this month rejected a 7.85 billion-euro ($8.6 billion) all-cash offer.
Later in a phone interview, Tilk said his comments on potential asset sales weren’t related to the company’s bid for Kassel, Germany-based K+S.
“We’re only talking about Potash Corp. here,” he said in the interview. “Anything I say you can’t take in the context of the transaction, or anything. I only talk here about Potash Corp. assets.”
The company, which began a strategic review of its equity investments last year, hasn’t made a decision which assets may be sold, he said. Tilk took the helm of Potash Corp. in July 2014, when he replaced Bill Doyle after 15 years.
Potash Corp., in addition to holding a 14 percent stake in Tel Aviv-based Isreal Chemicals, also has minority interests in Arab Potash in Jordan, China’s Sinofert Holdings Ltd., and Sociedad Quimica & Minera de Chile SA.