Bloomberg
China took a 12.5 percent stake in OAO Uralkali (URKA), the world’s biggest producer of potash, giving the nation a bigger say in a global battle for market share and expanding the reach of its overseas agriculture investments.
Chengdong Investment Corp., a unit of sovereign wealth fund China Investment Corp., exchanged bonds for shares in the potash producer, Uralkali said yesterday in a statement. The Chinese fund purchased the bonds in November from billionaire Uralkali investors Suleiman Kerimov, Filaret Galchev and Anatoly Skurov.
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China Wealth Fund Swaps Uralkali Bonds for 12.5% Stake
