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UPL strengthens presence in China crop protection market

Capital Market 

UPL announced that the company through its step-down overseas subsidiary has entered into definitive agreements to acquire 100% shares of Yoloo (Laoting) Bio-technology Co. (Laoting Yoloo) an agrochemical company based in Heibei Province China from Beijing Yoloo Bio-Technology Corp. (Beijing Yoloo).

In the Subsidiary, UPL will own 75% stake and Beijing Yoloo will hold 25% stake.

Laoting Yoloo is engaged in the business of manufacturing distribution and commercialization of crop protection products in China.

China is one of the major crop protection chemical market and with this acquisition UPL will strengthen its access in China market.

With this acquisition UPL will also have a formulation facility in China.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 15 2019. 18:29 IST