TEL AVIV, Sept 5 Fertiliser maker Israel
Chemicals (ICL) will not be bidding for an indirect
stake that is for sale in Chilean potash and lithium producer
SQM, a spokesman for the Israeli company said.
ICL Chief Executive Officer Stefan Borgas said in May that
ICL was interested in investing in SQM, which is 30 percent held
by Potash Corp of Saskatchewan, but noted SQM was too
big for ICL to buy outright.
A share-based merger of ICL and SQM, or ICL buying a stake
in SQM, could be attractive, but would need to involve Potash
Corp, which is also a shareholder in ICL, Borgas said in May.
SQM's controller Julio Ponce in December began the process
of selling the bulk of his shares in the company. His holding
firm Oro Blanco is looking to sell its majority stake
in Pampa Calichera, which in turn owns around 23
percent of SQM. Bids are due on Monday.
"We will not be in involved in this process," ICL's
ICL, a subsidiary of Israel Corp, is Israel's
sixth-largest producer of potash.
(Reporting by Tova Cohen; Editing by Susan Fenton)