<SEC-DOCUMENT>0000950103-22-000102.txt : 20220218
<SEC-HEADER>0000950103-22-000102.hdr.sgml : 20220218
<ACCEPTANCE-DATETIME>20220104093556
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-22-000102
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ICL Group Ltd.
		CENTRAL INDEX KEY:			0000941221
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		MILLENNIUM TOWER
		STREET 2:		23 ARANHA STREET, P.O. BOX 20245
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			61202
		BUSINESS PHONE:		(972-3) 684-4400

	MAIL ADDRESS:	
		STREET 1:		MILLENNIUM TOWER
		STREET 2:		23 ARANHA STREET, P.O. BOX 20245
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			61202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ISRAEL CHEMICALS LTD
		DATE OF NAME CHANGE:	19950314
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Via EDGAR</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Kevin J. Kuhar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gary Newberry&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance<BR>
Office of Life Sciences</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission<BR>
100 F Street NE<BR>
Washington, D.C., 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">January 4, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD>ICL Group Ltd.<BR>
Form 20-F for the Fiscal Year Ended December 31, 2020<BR>
Filed March 2, 2021<BR>
File No. 001-13742</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Mr. Kuhar and Mr. Newberry</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">ICL Group Ltd. (the
&ldquo;<B>Company</B>&rdquo; and/or &quot;<B>ICL</B>&quot;) is in receipt of the comments from the Staff (the <B>&ldquo;Staff</B>&rdquo;)
of the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) set forth in a letter from Kevin J. Kuhar and Gary Newberry,
dated December 27, 2021 (the &ldquo;<B>Comment Letter</B>&rdquo;) relating to the Company&rsquo;s annual report on Form 20-F for the
year ended December 31, 2020 (the &ldquo;<B>2020 Form 20-F</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kindly note that Kobi Altman has retired from
his position as ICL's CFO, effective January 1, 2022. Aviram Lahav (<FONT STYLE="color: Blue"><U>aviram.lahav@icl-group.com</U></FONT>), the undersigned,
has undertaken the position of CFO in his place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Below is the Company&rsquo;s response to the Staff&rsquo;s comment in the Comment Letter. The Staff&rsquo;s comment is set forth below
followed by the Company&rsquo;s response.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Form 20-F for Fiscal Year Ended December 31, 2020</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note 8 &ndash; Investments in Subsidiaries</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt">A.</TD><TD><U>Non-Controlling interests in Subsidiaries, Page 40</U></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal; text-decoration: none">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal; text-decoration: none">We
                                            note the disclosure here and on page 127 that you hold a 50% interest in Yunnan Phosphate
                                            Haikou Co. Ltd. (&quot;</FONT><FONT STYLE="text-decoration: none"><B>YPH</B><FONT STYLE="font-weight: normal">&quot;)
                                            and refer to the entity as a joint venture. Given that you do not appear to hold a majority
                                            interest in YPH, please explain the nature and terms of the arrangement and your rights and
                                            obligations thereunder that provided you with the controlling interest in this entity. Describe
                                            your accounting for the arrangement under IFRS 10.</FONT></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Response to Comment No. 1:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal; text-decoration: none">The
Company would like to thank the Staff for its comment. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal; text-decoration: none">In
2015, ICL entered into a strategic partnership agreement (the &ldquo;</FONT><FONT STYLE="text-decoration: none"><B>Agreement</B><FONT STYLE="font-weight: normal">&rdquo;)
with Yunnan Phosphate Chemicals Group Corporation Ltd. (&ldquo;</FONT><B>YYTH</B><FONT STYLE="font-weight: normal">&rdquo;), China&rsquo;s
second largest chemicals manufacturer, which is traded on the Shanghai stock exchange, to establish an equally owned (50%-50%) company
(&ldquo;</FONT><B>YPH</B><FONT STYLE="font-weight: normal">&quot;) controlled by ICL. The purpose and design of YPH was to </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal; text-decoration: none">create
a fully integrated phosphate company with upstream and downstream operations, including product development, production and sales and
marketing activities. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal; text-decoration: none">ICL
consolidates the financial statements of YPH as of its acquisition date, based on the accounting analysis of ICL's control over YPH that
was conducted in accordance with IFRS10 and based on the following facts:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">YPH has a wide range of activities, such as mining, production, selling and marketing
and financing activities, which require substantive decision-making.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">2.</TD><TD STYLE="text-align: left; padding-right: 6pt">Pursuant to the agreement, the board of directors of YPH consist of four members, two
of which are appointed by ICL and the other two by YYTH. One of the directors appointed by ICL serves as the chairman of the board and
has a casting vote. This means that although ICL and YYTH have equal representation in the board of directors, by exercising its casting
vote ICL controls the approval of the board's decisions regarding YPH's relevant activities.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">3.</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">Pursuant to the agreement, the General Manager of YPH, who oversees the daily management
and operations of the company, is nominated by ICL. In addition, ICL has the right to nominate the COO and the VP sales and marketing.
YYTH has the right to nominate the CFO and the VP HR of YPH. The COO, the VP sales and marketing, the CFO and the VP HR, all report to
the General Manager. The detailed roles and responsibilities of the management members are proposed by the General Manager and approved
by the board.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">4.</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">Pursuant to the agreement, all of the decisions which require unanimous consent
of the board of directors represent protective rights (e.g., amendment to company's articles of association, dissolution of the company,
merger, division or spin-off of the company) meaning that they do not prevent or limit ICL from exercising its power to direct the relevant
activities of YPH through its casting vote in the board of directors, and through the appointment of YPH's key management personnel.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">5.</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">Following the regulatory approvals granted in connection with the acquisition,
there are no laws or regulations in the PRC or in Yunnan province that prohibit ICL from exercising its rights, including to appoint directors
and management and for exercising its director&rsquo;s casting vote.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">6.</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">Pursuant to the agreement, ICL is entitled to 50% of YPH's net profits, through
its 50% holding of YPH's ordinary shares. Accordingly, ICL is exposed to variable returns from its involvement with YPH.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: justify">Based on the presented facts, we concluded
that since ICL has (a) the power over YPH, through its casting vote in the board of directors (substantive right) and its rights to appoint,
reassign or remove members of YPH's key management personnel who have the ability to direct the most relevant activities; (b) exposure,
or rights, to variable returns from its involvement with YPH; and (c) the ability to use its power over YPH to affect the amount of ICL's
returns, ICL controls YPH and should consolidate it in its consolidated financial statements under IFRS 10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We acknowledge that the Company and its management
are responsible for the accuracy and adequacy of our disclosures, notwithstanding any review, comments, action or absence of action by
the staff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> If you have any questions concerning the
above response, please do not hesitate to contact the undersigned at +972-3-684-4440 or email address: <FONT STYLE="color: Blue"><U>aviram.lahav@icl-group.com</U></FONT>,
with any questions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">***</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 27%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely</FONT></TD>
    <TD STYLE="width: 73%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-decoration: none"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Aviram Lahav</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: none">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aviram Lahav</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !< ,4# 2(  A$! Q$!_\0
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"_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
