Punjab Chemicals & Crop Protection Ltd’s overseas subsidiary SD Agchem (Europe) N.V. has entered into an agreement to divest 100 per cent shareholding in SD Agchem (Netherlands) B.V. (SDANBV) to one of the overseas subsidiaries of United Phosphorous Ltd.
With this divestment, SDANBV and its subsidiaries including Agrichem B.V. will cease to the company’s stepdown subsidiaries, Punjab Chemicals informed the stock exchanges today without divulging the value of the transaction.