TSXV:AAA.P - Post by User
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oceanelevenon Mar 21, 2015 3:06pm
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Post# 23547234
was this posted already???
was this posted already???Joseph Wolf:
Right and just as a follow-up. With the China investment, it seems to be a long process, but you noticed that you have a lot of people going over there already. Can you talk about how you feel about that? What you need to do with the government and what you’re allowed to do, not allowed to do, while that’s being approved, so that where you’ll be when the JV finally closes and just the timing on how that works and then related to that, an update on the Ethiopian investment? If I recall, you were making a decision about further investments in Ethiopia. You mentioned it briefly during the presentation, but I’m not sure that we’ve heard any final answer to further investments in Ethiopia.
Stefan Borgas:
Okay. Let me start with the last one. We haven’t made any announcement on whether we will go the next step in Ethiopia or not. We’re still contemplating that. The discussions are ongoing and there’s still technical things to be sorted out. With respect to the closing in China, there are three major streams of approvals that have to happen. The first one is the approval by the stock exchange regulators for us to be able to invest into the Yunnan Yuntianhua, the mother company, our 15% share. This is probably going to be the fastest approval. We expect this to take about six months and then after this, we could do this investment anytime we want within a six-month window or we have to ask for an extension of that approval I think, which we can also do.
https://repo.icl-group.com/Lists/MediaServer_Documents/Transcript%20-%20ICL%20Q4%202014%20Analyst%20Call%20-%20February%2011,%202015.pdf