ICL Announces Strategic Alliance with YTH Group
12.18.14
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Simpson Thacher represented Israel Chemicals Limited (“ICL”, NYSE and TASE: ICL) in its announced strategic alliance with Yunnan Yuntianhua Co., Ltd. (SSE: 600096) (“YTH”), through which (i) ICL will invest up to $500 million for 50% ownership of a joint venture that will operate a fully integrated, world-scale phosphate business in China and (ii) a 15% holding in YTH as a strategic investor. The transaction is subject to customary closing conditions which include a successful carve-out of mining assets and downstream fertilizer businesses, antitrust clearance and government approvals, and is expected to close in the first quarter of 2016.
ICL is a global manufacturer of products based on specialty minerals and a public company whose shares are dual-listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL).
YTH is China’s second-largest chemicals manufacturer with large-scale phosphate mines and a manufacturer of fertilizers and downstream products derived from phosphates.
The Simpson Thacher team included Shaolin Luo, Qinghong Cai, Yang Wang and Shuyuan Sun (Beijing Corporate); David Vann and Étienne Renaudeau (Competition); and Alexis Coll-Very, George Wang and Andrew Winerman (Regulatory).