PI Industries has executed an offer with Isagro S.p.A, a company incorporated in Italy, the promoter and existing shareholder of Isagro Asia, for acquisition of the business of Isagro Asia, who are engaged in Contract Manufacturing, local distribution and exports of agrochemicals through acquisition of 100% shareholding of Isagro Asia. The business will be acquired by PI directly or through its subsidiary.
The transaction value is estimated Rs 345 crore net of cash and debt subject to closing adjustments. The consummation of the proposed transaction is expected in Q3FY20 subject to finalisation of definitive agreements, customary closing conditions and regulatory approvals.
PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.
