UPL Brazilian arm's seed-making associate to sell all assets for $125 mln
This story was originally published at 18:48 IST on 6 June 2025
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NEW DELHI – Herbicide and insecticide manufacturer UPL Ltd., with domestic and overseas operations, said Friday a high-quality seeds producing associate company of its step-down Brazilian subsidiary is selling its entire assets for around $125 million. UPL's step-down subsidiary Advanta Comrcio de Sementes Ltda, Brazil holds 33% stake in the associate company Serra Bonita Sementes S.A.
Proceeds from the sale will be distributed to Serra Bonita's shareholders, subject to regulatory approvals. The associate company, according to UPL, is "engaged in producing high quality seeds through innovation and local expertise". Rural producer Jose Paulo Rocheto of Brazil and Tres Marias Agro Ltda are the buyers in the sale agreement.
Serra Bonita, which had recorded revenue from operations of INR 4.41 billion for financial year ended December, will be liquidated after the distribution and regulatory procedures. UPL said in a press release this was strategic divestment under its Advanta seeds business. It said the deal would reinforce the company's long-standing relationship with the buyer Jose Paulo and his Roquetto group - a leading force in Brazilian agribusiness.
On Friday, shares of UPL ended 0.6% lower at INR 642.85 on the National Stock Exchange. End
US$1 = INR 85.62
Reported by Rajesh Gajra
Edited by Avishek Dutta
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