United Phosphorus (UPL), a leading producer of crop protection and specialty chemicals, has acquired 50 per cent stake in Sipcam Isagro Brazil (SIB) from Isagro SpA for ~$600 mn. SIB was an equal venture between Sipcam-Oxon group (Sipcam) and Isagro, which will now exit the joint venture by offloading its stake to UPL. The transaction is expected to close within a month.
SIB produces and distributes agrochemicals with a formulation plant in Brazil with capabilities in various formulation types for crop protection products. With a potential market of $7 billion, Brazil ranks among the top five largest global crop protection markets.
The deal is the third acquisition of UPL in this fiscal, following the acquisition of the global Mancozeb business and the brand Manzate from DuPont in June 2010 and RiceCo LLC, US, in December 2010.crackcrack
| Company Name | CMP |
|---|---|
| UPL | 658.00 |
| PI Industries | 3052.35 |
| Bayer CropScience | 4848.70 |
| Sharda Cropchem | 1102.70 |
| Sumitomo Chemical | 443.30 |
| View more.. | |
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