Belaruskali has sold its stock in the International Potash Company (IPC) to the Austrian and British companies for over RUB282.2 million, BelTA learnt from the Belarusian company.

In line with the purchase/sale agreement of 18 May 2011, Belaruskali sold its shares in the International Potash Company to two legal entities.

IBH Beteiligungs-und Handelsgesellsсhaft m.b.H. (Vienna, Austria) acquired 247,200 shares at the price of RUB830 per share for the total RUB205.176 million. Galua Management Limited (British Virgin Islands) bought 92,800 shares at the price of RUB930 per share for RUB77.024 million.

Apart from two new companies, the IPC shareholders are currently Sotrudex and Mineral Group. Sales proceeds made up RUB282.22 million and were transferred to the Belaruskali bank account.

The decision to sell IPC shares had been made by the government of Belarus that owns 100% of the Belaruskali shares.

Belaruskali owned 33% of the IPC shares. International Potash Company was founded by Belaruskali, Uralkali and Silvinit in 1992. Before the sales the Belarusian company remained the only founder that still had a stake in IPC, as Uralkali and Silvinit had already sold their shares.

Since 2005 Belarusian Potash Company (BPC) is an exclusive exporter of Belaruskali’s products. The BPC stockholders are Belaruskali with 45% of shares, Uralkali with 50% of shares and Belarusian Railways with 5% of shares.

Belaruskali is one of world’s biggest manufacturers of potash fertilizers. The Belarusian company operates 16% of the world potash market. About 80% of the company’s output is exported to Europe, Eastern Asia, the Mediterranean region, South Africa, India, China, South and North America. Belaruskali was reincorporated as a joint-stock company in 2010.

Belta