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Israel Chemicals to sell stake in desalination firm IDE -report
April 25, 2017 / 8:26 AM / in 8 months

Israel Chemicals to sell stake in desalination firm IDE -report

JERUSALEM, April 25 (Reuters) - Israel Chemicals has agreed to sell its 50 percent stake in water desalination firm IDE Technologies for about $180 million, a leading Israeli financial news website reported on Tuesday.

Israel Chemicals (ICL), a top global supplier of potash, and IDE both declined to comment.

IDE, which has built major desalination plants in the United States, Israel, India and China, is jointly owned by ICL and Israeli conglomerate Delek Group.

News website Calcalist reported that ICL has agreed to sell its portion to a group of 3-4 buyers, including Israel’s Clal Insurance, which will take over 20 percent of IDE.

Officials at Clal Insurance had no immediate comment. (Reporting by Ari Rabinovitch)

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