February 8, 2019 |
Japan's Mitsui and Ishihara Sangyo Kaisha (ISK) have agreed to buy 25% of the Brazilian agrochemical company Ourofino Agrociência for an undisclosed amount.
Mitsui will take 20% of Ourofino, while ISK will have 5%, Mitsui said in a press release.
Ourofino is worth BRL203m ($54.8m), according to Mitsui, which puts Mitsui's stake at BRL101m and ISK's share at BRL25.2m.
Brazil accounts for roughly 20% of the global market for crop protection products. Now Ourofino will sell ISK's herbicides, fungic
Japanese firms buy a quarter of the Brazilian agrochemical company