UPL through its step down wholly owned subsidiary has increased its stake in UPL do Brasil Industrie E Comercio de Insumos Agropecuarios S.A. (UPL do Brasil), a Brazilian company, from 73% to 100% by acquiring the balance 27% shares from its existing shareholders.
This consolidation will help UPL to have a more focused approach into the Brazilian crop protection market, the largest and one of the fastest growing crop protection markets in the world.
UPL do Brasil, based out of Campinas, Sao Paulo state in Brazil is engaged in the production, marketing, selling and distribution of crop protection products and specialties in the Brazilian agrochemicals market.
UPL (formerly United Phosphorus) is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.
UPL is currently trading at Rs. 423.00, up by 6.35 points or 1.52% from its previous closing of Rs. 416.65 on the BSE.
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