ICL Reached Agreements With the State of Israel Concerning the Royalties' Arbitration

TEL AVIV, Israel, December 26, 2018 /PRNewswire/ --

ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, today announced that further to Note 6 of the Company's financial report for the third quarter of 2018, the Company hereby updates that, pursuant to the royalties' arbitration between the State of Israel and Dead Sea Works (DSW) and in accordance with the arbitrators' instructions, discussions were held between the State and DSW, which led to an agreement regarding a series of disputes that constitute the majority of the remaining unresolved disputes. A joint notice regarding the said agreements was submitted to the arbitrators, and they have yet to render a decision in the matter. As part of the aforesaid agreements, DSW will pay the amounts specified in the agreements' document as well as the amounts deriving from the arbitrators' ruling dated October 10, 2018, by December 25, 2018. Accordingly, the Company will recognize an expense in its financial reports for the fourth quarter of 2018 at the amount of $27 million, including interest and linkage, for the past periods (2000-2017).

About ICL  

ICL is a global specialty minerals and chemicals company operating bromine, potash and phosphate mineral value chains in a unique, integrated business model. ICL extracts raw materials from well-positioned mineral assets and utilizes technology and industrial know-how to add value for customers in key agricultural and industrial markets worldwide. ICL focuses on strengthening leadership positions in all of its core value chains. It also plans to strengthen and diversify its offerings of innovative agro solutions by leveraging ICL's existing capabilities and agronomic know-how, as well as the Israeli technological ecosystem. ICL's operations are divided into four business divisions: Industrial Products (bromine value chain and complementary business); Potash; Phosphate Solutions (P2O5 Chain); and Innovative Agro Solutions.  

ICL shares are dual-listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2017 revenues totaled $5.4 billion.

For more information, please visit the Company's website at http://www.icl-group.com.

Investor Relations Contact:
Limor Gruber
Head of Investor Relations
+972-3-684-4471
[email protected]

Press Contact
Maya Avishai
Head of Global External Communications
+972-3-684-4477
[email protected]

SOURCE ICL

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