OREANDA-NEWS. May 31, 2011. OJSC Belaruskali has sold its stake in CJSC International Potash Company, a source in the administration of the country told reporters.

“Two foreign companies bought the share of Belaruskali. They offered the money that suited the Belarusian side.”

The deal was closed in excess of the initial price, which stood at 573,000 Belarusian rubles per share.

Belaruskali had held a 33% stake in IPC since it was created in 1992.

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

In early February, the shareholders of Uralkali and Silvinit approved merging the companies to create a leading global potash producer. The companies plan to complete their merger in May or June.

Belaruskali hopes potash prices will go up as a result of the merger in Russia.