UPL Corporation Limited ('UPL Corp'), a wholly owned subsidiary of UPL Limited ('UPL'), in Mauritius, has announced today that it has signed a definitive agreement with Platform Specialty Products Corporation (NYSE:PAH) to acquire Arysta LifeScience Inc. and its subsidiaries (collectively 'Arysta'), a global provider of innovative crop protection solutions, including BioSolutions and Seed Treatment, for approximately US$4.2 billion in cash consideration, subject to customary closing conditions and regulatory approvals.
The Board of Directors of the Company has approved this acquisition in its meeting held on July 20, 2018.
The closing of the transactions contemplated above is subject to the satisfaction of customary closing conditions and regulatory approvals.
For twelve months ended March 2018, Arysta reported operating revenue of c.US$2.0 billion and adjusted EBITDA of US$424 million.
Following the acquisition, UPL will be one of the world's largest global crop protection companies, with an innovative and differentiated product portfolio.
UPL will be able to offer a complete basket of solutions for various arable as well as specialty crops comprising of crop protection chemicals, BioSolutions and seeds covering the entire crop value chain from planting to post harvest.
The acquisition will give UPL access to a variety of patented products through collaborations and partnerships as well as enhanced in-house R&D capabilities.
UPL will have an integrated supply chain with a backward integrated manufacturing base in major markets and deep distribution capabilities across the globe to address needs of growers.
Arysta specializes in the
development, formulation, registration, marketing and distribution of differentiated crop protection chemicals for a variety of crops and applications. Arysta's diverse crop protection chemicals control biotic stresses such as diseases (fungicides), weeds (herbicides) and insects (insecticides). Arysta's portfolio of proven BioSolutions is comprised of biological stimulants, which are derived from natural substances applied to plants, seeds or the soil in order to enhance yields and help crops withstand abiotic stress, such as drought or cold; biological control products, which perform the same task as conventional Crop Protection products with, in many cases, the added benefit of reduced chemical residues; and innovative nutrition products, which enhance plant growth and root development.
Shares of UPL Limited was last trading in BSE at Rs.550.25 as compared to the previous close of Rs. 552.9. The total number of shares traded during the day was 62121 in over 1366 trades.
The stock hit an intraday high of Rs. 554.2 and intraday low of 542.35. The net turnover during the day was Rs. 33990251.