PI Industries’ wholly owned subsidiary -- PI Industries Management Consultancies L.L.C has received approval to make ‘Rule 2.7 Announcement’ to acquire Plant Health Care Plc (PHC) (Target entity).
The Target entity will become a step-down subsidiary of the Company. The acquisition will enable the Company to offer integrated agri-solutions across both chemicals and biologicals. The Rule 2.7 Announcement is the Company’s announcement that it has a firm intention to make an offer for the Target. The completion of acquisition may take around 3 months from the date of Rule 2.7 Announcement, subject to the conditions of the Rule 2.7 Announcement getting satisfied.
Plant Health Care Plc is an AIM UK-listed company with subsidiaries in the US, Brazil, Mexico and a few other countries. The board of directors in their meeting held on June 26, 2024 has approved the same.
PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.
