US firm to negotiate 26% stake in Jordan’s Arab Potash Company
North American potash company PCS has submitted the best final offer in connection with the sale of 26 percent of the capital stock of Arab Potash Company (APC). PCS will shortly be invited to engage into negotiations with the Government of Jordan to finalize the transaction.
Arab Potash is owned by the Government of Jordan through Jordan Investment Corporation and is one of the largest potash companies in the world. The sale is part of the privatization program being conducted by the Government of Jordan.
HSBC Bank is the sole advisor on the transaction. Bids for the shareholding in Arab Potash Company were submitted by Mitsubishi Corporation, Kali and Saltz and PCS. HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East has 29 branches throughout the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. — (menareport.com)
© 2003 Mena Report (www.menareport.com)