With this acquisition, K+S is further promoting the expansion of its core business and at the same time strengthening its activities in southern and eastern Africa. The acquired fertilizer business will in future be operated within the joint venture under the name Fertiva (Pty) Ltd. The other 25 percent of the shares in the new sales company will be held by two former ICH shareholders who previously managed the fertilizer business at ICH and are now also part of Fertiva's management team.
ICH has already been distributing K+S fertilizers in the southern part of Africa for over 40 years, as well as products from other manufacturers. In the future, Fertiva will constitute a distribution network with the already existing K+S Group companies in Kenya and Uganda, with which K+S will further strengthen its presence in the sub-Saharan region.
We make an important contribution to society: We enable farmers securing the world's food supply. Our products keep numerous industries running. We enrich consumers' daily lives and ensure safety in winter. With around 11,000 employees, production sites on two continents, and a global distribution network, we are a reliable partner for our customers. At the same time, we are realigning ourselves: We are focusing even more strongly than before on fertilizers and specialties. We are becoming leaner, more cost-efficient, more digital, and more performance-oriented. On a solid financial basis, we are tapping into new markets and business models. We are committed to our responsibility towards society and the environment in all regions in which we operate.