| China is expanding its influence over the potash industry with Industrial Commercial Bank of China (ICBC) and China Construction Bank acting as lenders of a $530 million loan deal Russian potash miner Uralkali, the world's biggest producer of the commodity, signed Monday.
This is not the first time Chinese institutions approach Uralkali. In 2013, China’s sovereign-wealth fund (CIC) grabbed a 12.5% stake in Russian potash producer Uralkali, the world's biggest producer of the commodity, by exercising an option on a convertible bond it acquired earlier. Since last year CIC has been shifting its focus to invest in agriculture and global food supplies, which reflects the priorities of the country’s current leadership.........................................Full Article: Source
|