Itafos closes $34 mln financing with Zaff, Pala, J.P. Morgan
Itafos (TSX-V: IFOS), a producer of phosphate-based fertilizers and related products, recently completed a private placement transaction, raising US$34.05 million. The key investors were Zaff, a U.S. distressed private equity firm and Itafos' majority owner, Pala Investments and J.P. Morgan Asset Management. The proceeds are being used to recommission Itafos' operations in Brazil and other priorities. Itafos was acquired by Zaff last October. The company recently redomiciled from Canada to the Cayman Islands and delisted its securities from the Toronto Stock Exchange, moving them to the TSX Venture Exchange.
22 June 2017•6 mins read
