UPL’s arm to acquire 80% stake in PT Excel Meg Indo

The acquisition is likely to be completed by December 31, 2021 UPL’s step down subsidiary -- UPL Global has entered into definitive agreement for acquisition of 80% stake in equity share capital of PT Excel Meg Indo - Indonesia. Proposed acquisition of PTE shall provide UPL market access and access to product portfolio.As per the terms of definitive agreement PTE has been valued at an enterprise value of $25 million subject to customary price adjustment mechanism. The acquisition is likely to be completed by December 31, 2021.UPL 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.