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Israel Chemicals sells 50% holding in desalination firm IDE for $167M

Dec. 11, 2017 9:39 AM ETICL Group Ltd (ICL) StockICLBy: Carl Surran, SA News Editor11 Comments
  • Israel Chemicals (NYSE:ICL) says it completed a sale of its 50% stake in water desalination firm IDE Technologies for $167M, below an initial agreement of $178M.
  • ICL says it expects to post a $40M capital gain in Q4 from the sale.
  • IDE, which has built major desalination plants in the U.S., Israel, India and China, is jointly owned by ICL and Israeli firm Delek Group.

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