Lapid asks Israel Chemicals to release trapped profits

Israel Chemicals CEO Stefan Borgas: We will consider the request.

On Thursday, Minister of Finance Yair Lapid asked Israel Chemicals Ltd. (TASE: ICL) CEO Stefan Borgas to examine releasing part of the companies trapped profits. Borgas said that the company would consider the request, and submit the issue to the company's board of directors at its next meeting.

In July, it was revealed that Israel Chemicals received NIS 2.2 billion in tax breaks in 2006-11.

Published by Globes [online], Israel business news - www.globes-online.com - on October 27, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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