OREANDA-NEWS. February 16, 2011. The Belarusian government mulls withdrawing OJSC Belaruskali from International Potash Company, an official in the administration of the country stated.

Belaruskali has held a stake in IPC since it became the exclusive exporter of Belarusian potash fertilizers.

Although CJSC Belarusian Potash Company was designated as the exclusive exporter of Belarusian potash in 2005, Belaruskali still controls about 33% in IPC.

The issue of Belaruskali’s withdrawal from IPC has not been relevant until recently, the source added.

The stake owned by Belaruskali may be transferred to the State Property Committee rather than sold.

Previously, the boards of directors of Russian fertilizer makers Uralkali and Silvinit approved the merger of the companies to create a leading global potash producer.

Uralkali plans to buy 20% of common shares in Silvinit for USD 1.4 billion, or USD 894.5 per share, as part of their merger, Uralkali said. Uralkali also plans to issue 1.2 billion additional shares to convert them into common and preferred shares of Silvinit, also as part of the merger, Uralkali President Pavel Grachyov said during a conference call. The shareholders of Silvinit, with the exception of Uralkali, are expected to get 133.4 common shares in Uralkali for one common share in Silvinit and 51.8 common shares of Uralkali for one preferred share in Silvinit, Uralkali said.