UPL to acquire 80% stake in Indonesian agro-chemicals producer
Capital MarketUPL announced that UPL Global, a step down subsidiary of Company's subsidiary viz. UPL Corporation has entered into definitive agreement for acquisition of 80% stake in equity share capital of PT Excel Meg Indo - Indonesia (PTE). PTE has good presence in Indonesia, offering a wide range of agro-chemical products. The acquisition will provide UPL market access and access to product portfolio.
The initial stake of 80% of equity shares shall be acquired upon closing. UPL also retains the right to acquire balance 20% stake by end of 2023 subject to the terms of agreement.
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