UPL Buys Sipcam Stake

UPL Buys Sipcam Stake

Brazil M&A India

United Phosphorus Limited, an Indian agrochemical company, is acquiring a 50% stake in Sipcam Isagro Brazil from Isagro, it says in a statement. Sipcam Isagro is a 50/50 JV between Sipcam-Oxon Group and Isagro. Based in Minas Gerais, the company is a niche local producer and distributor in the Brazilian agrochemicals market. The purchase price was not disclosed, but local Indian press reports peg the value of the deal to $600m. YES Bank is advising UPL. “Given the high entry barriers this market

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