UPL’s subsidiary -- UPL Corporation’s (UCL) -- step-down subsidiary -- UPL Global (UGL) has completed acquisition of balance 20% stake in PT Excel Meg Indo, Indonesia (PT Excel). Post completion of the acquisition, UGL will hold 99.9998% stake in PT Excel, while another subsidiary viz UPL Europe will hold 0.0002%.
UPL is a major global player in crop protection products. PT Excel has good presence in Indonesia, offering a wide range of agrochemical products. This purchase of additional stake is as per the understanding reached between the parties under relevant agreements. The cost of acquisition of 20% stake in PT Excel is around $6.85 million.
UPL 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.
