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Home » UPL set to acquire Arysta LifeScience for over  $4 billion

UPL set to acquire Arysta LifeScience for over  $4 billion

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UPL Ltd is close to buying the farm pesticides business of investor Bill Ackman’s Platform Specialty Products Corp.—known as Arysta LifeScience—for more than $4 billion in one of the largest outbound deals by an Indian company, three people aware of the matter said. The announcement could happen as early as this week, said one of the three people on condition of anonymity. “It will be a leveraged deal,” said a second person. UPL has arranged funds from a consortium of lenders, including a Japanese bank.

UPL Ltd is close to buying the farm pesticides business of investor Bill Ackman’s Platform Specialty Products Corp.—known as Arysta LifeScience—for more than $4 billion in one of the largest outbound deals by an Indian company, three people aware of the matter said. The announcement could happen as early as this week, said one of the three people on condition of anonymity. “It will be a leveraged deal,” said a second person. UPL has arranged funds from a consortium of lenders, including a Japanese bank.

The Arysta acquisition will help UPL enhance “its solutions to fit local farming needs” and bring in synergies that can benefit its operations in overseas markets, a third person aware of the matter said. The acquisition will also boost UPL’s agrochemical and crop protection business.

An email sent to a public relations representative of Platform and its communications department remained unanswered. Anand Vora, chief financial officer of UPL, declined to comment.

See full article at Agropages

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