(Reuters) — PotashCorp is sizing up its chances of gaining control of four companies in which it holds minority stakes.
The company, which is the world’s largest fertilizer producer, is reviewing its $4.5 billion worth of investments in China’s Sinofert Holdings Ltd., Israel Chemicals, Jordan’s Arab Potash Co. PLC and Chile’s SQM.
“The strategic objective is to obtain some control or participation in the companies,” said chief executive officer Jochen Tilk.
“We see them as opportunities, but we’re also mindful that we can’t be (in) minority investments forever unless we have a plan going forward.”
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The company has long said it wanted majority stakes but is now conducting a formal review of the investments. Tilk said he is content with the influence PotashCorp holds at Arab Potash and Sinofert.
No decisions have been made, and PotashCorp would not act without consulting the companies involved, Tilk said.
It tried to buy control of Israel Chemicals under previous CEO Bill Doyle but was rebuffed last year by the Israeli government, which holds a golden share.
PotashCorp is also examining its phosphate operations. It is trying to improve phosphate profit margins but is also considering alternatives, Tilk said.
