The Israeli specialty chemicals company has also raised its guidance for 2022.
After the deal was completed, Israel Corp's stake in ICL fell by 1.57% to 44.1%.
ICL's share price is up 260% since mid-2020 and could be set for further gains as commodity prices continue to rise.
ICL’s potash prices rose from $337 per ton last year to $600 this year and could rise to $1,000 per ton due to sanctions on Belarus, the world’s second largest potash producer.
The agreed selling price in the contracts is $590 per ton compared with an average price of $337 per ton that ICL received in 2021.
Net profit was $283 million, up 335% from the fourth quarter of 2020.