Currently viewing Global edition

ICL to scoop up remaining Allana Potash stock

The massive dilution that would have been required to fund Allana's Ethiopian potash project has been cited as a major reason for the company agreeing to be taken over by its large shareholder Israel Chemicals (ICL).

Allana’s CEO Farhad Abasov said the board had agreed to the definitive arrangement because, despite the quality of the asset, the “generally challenging” financial environment for junior mining