Pursuits
Billionaire Ofer to Dodge ‘Villains’ Tag With Potash Sale
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Israel Corp., the Tel Aviv-based holding company controlled by billionaire Idan Ofer, may reap 15 times its investment in Israel Chemicals Ltd. if a $13.5 billion takeover bid by Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer maker, is approved by Israeli regulators.
The deal, which could become the biggest acquisition ever in the Middle East, would allow Ofer, 57, to reduce the holdings he controls in his native country. The Ofer family has endured almost a decade of criticism for allegedly buying state assets at discounted prices, damaging the Dead Sea and selling an oil tanker to a front company for Iran.