NEW DELHI: UPL on Friday said that UPL Corporation, a wholly-owned subsidiary, signed a definitive agreement with Platform Specialty Products Corporation to acquire Arysta LifeScience Inc.
and its subsidiaries for approximately $4.2 billion in cash consideration.
Arysta LifeScience is a global provider of innovative crop protection solutions, including BioSolutions and Seed Treatment.Following the acquisition, UPL will be one of the world's largest global crop protection companies, with differentiated product portfolio, the company said in a filing to BSE.
The board of directors of the company approved the acquisition proposal in its meeting on Friday, the company said.The acquisition will give UPL access to a variety of patented products through collaborations and partnerships as well as enhanced in-house RD capabilities.
UPL will have an integrated supply chain with a backward integrated manufacturing base in major markets and deep distribution capabilities across the globe to address the needs of growers.Arysta specialises in the development, formulation, registration, marketing and distribution of differentiated crop protection chemicals for a variety of crops and applications.