UPL to acquire majority stake in Indonesian agchem business

摘要

UPL has agreed to acquire an 80% stake in the equity share capital of Indonesian agrochemical business PT Excel Meg Indo (PTE — Jakarta). A definitive agreement has been signed with the all-cash deal valuing PTE at $25 million. UPL notes that it retains the right to acquire the remaining 20% stake in the company by the end of 2023, adding that the deal requires no governmental or regulatory approval.