UPL Ltd.

UPL’s overseas subsidiary has entered into agreement with the Italian company Spicam S.p.A., to sell its entire stake of 50% in the Brazilian agrochemical company Sipcam UPL Brazil S.A. The gross consideration amount of the transaction is $58.50 million (approximately Rs 351 crore).

This disinvestment will release the funds to the company which will be available for new opportunities and meet growing business requirements. It will also help UPL to have more focused approach for Brazilian agrochemical market which is one of the largest agrochemicals market in the world.

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.