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United Phosphorus to Acquire 50% Stake in Sipcam Isagro Brasil
12:52 AM MST | March 7, 2011 | Deepti Ramesh
United Phosphorus Ltd. (UPL; Mumbai) informed the Bombay Stock Exchange (Mumbai) that it has entered into an agreement with Isagro (Milan) to acquire its 50% stake in Sipcam Isagro Brasil (Uberaba, Brazil). Sipcam Isagro Brasil is a 50-50 joint venture between Isagro and Sipcam-Oxon group (Pero, Italy). Financial terms of the deal were not disclosed. The acquisition of the stake by UPL will result in Isagro exiting the jv while Sipcam-Oxon will continue to hold its 50% stake in Sipcam Isagro Brasil. The transaction is expected to close within a month, UPL says...
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