Business Daily from THE HINDU group of publications
Wednesday, Nov 15, 2006
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Business Daily from THE HINDU group of publications Wednesday, Nov 15, 2006 ePaper |
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Corporate
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Mergers & Acquisitions United Phosphorus buys French co Our Bureau
Mumbai , Nov. 14 United Phosphorus Ltd (UPL) announced on Tuesday that it has acquired French crop protection company, Cerexagri for euro111 million (Rs 643 crore). The acquired company manufactures and markets crop protection, and post-harvest agricultural chemicals. Mr Rajju Shroff, Chairman and Managing Director of United Phosphorus, said that the acquisition comes along with 10 subsidiary and four joint ventures of Cerexagri.
More ventures
UPL had signed an agreement with DuPont Co in September for purchase of the latter's Bensulfuron-methyl business, including Londax herbicide and all its mixtures throughout the world (excluding the Asia Pacific region). UPL has also entered into a production agreement for agrochemicals developed by Ishihara Sangyo Kaisha Ltd (ISK), Japan. UPL, ISK and Mitsui & Co Ltd (Mitsui) will establish a joint venture for the development, registration and distribution of ISK products in India. In August, UPL had increased its shareholding to 100 per cent from 19 per cent in Crop Serve (Pty) Ltd, South Africa, a holding Company with five subsidiaries, all located in Africa. The UPL stock closed at Rs 304.55 on the BSE, rising by 4.53 per cent over the previous day's close.
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