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China’s SDIC Mining Investment Co. is in advanced talks for a significant minority stake in Asia Pacific Potash Corp., according to people familiar with the matter.
A deal could be worth at least $400 million and might be announced as soon as the coming weeks, the people said. No agreement has been finalized and talks could still fall apart, they said. While ITD is still one of Thailand’s biggest construction firms, its market value has tumbled to a little over $100 million from more than $1.5 billion less than 10 years ago. Net income for the first quarter was about 122 million baht , down 60% from a year earlier, the company said last week.
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