UPL has completed the transaction to acquire 40 per cent stake in Sinagro group, a Brazilian company, based in Mato Grosso. Earlier in March, the company through its step-down subsidiary had entered into a deal to acquire the stake in the Brazilian firm, subject to necessary approvals.
Sinagro is one of the leading distributors of farm inputs in the Cerrado region of Brazil and also is in the business of agricultural production and trading of grains. The company, however, did not disclose the cost at which it acquired the shares.
UPL (formerly United Phosphorus) is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.
