Ethiopian Potash Corp

[wshaw14]

I dont think this has anything to do with FED. this a a 51 % stake in the Sainik Yara JV Ethiopian Potash BV.


Amarchand & Mangaldas & Suresh A Shroff Co has also advised the Indian promoters of XLR Capital (Cyprus) Ltd (XLR) in respect of the acquisition of the majority stake of Netherlands-based joint venture company Ethiopotash BV by Yara Nederland BV from existing shareholders, Indian company Seftech Phosphate Private Ltd and XLR (Cyprus-based company with Indian promoters). The transaction consisted of the transfer of 17.22 percent shares held by Seftech Phosphate Ltd to XLR, as per the terms of the original shareholders agreement; transfer of 8.33 percent shares held by Seftech Phosphate Ltd to Yara Nederland BV; and transfer of 25.55 percent shares held by XLR to Yara Nederland BV. XLR acquired 17.22 percent shares of Ethiopotash from Seftech for approximately US$11 million whilst Yara acquired 34.33 percent shares of Ethiopotash from XLR and Seftech for approximately US$30.76 million. Post closing, Yara will hold 51 percent and XLR will hold 49 percent in Ethiopotash. Partner Shailaja Lall led the transaction which closed on 4 May 2012.