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India’s UPL exits Brazil agchem JV with Sipcam

1:28 AM MDT | April 2, 2014 | Deepti Ramesh

Agricultural chemical company UPL (Mumbai), which was known as United Phosphorus until last October, informed the Bombay Stock Exchange (Mumbai) on 1 April that it has entered into an agreement with Sipcam (Pero, Italy), a crop protection products, specialty fertilizers, and seeds company, to sells UPL’s 50% stake in their equally owned Sipcam UPL (Uberaba, Brazil) joint venture, to Sipcam, for about $58.5 million. The transaction is expected to be completed in June 2014. UPL, in March 2011, acquired Isagro's (Milan) 50% stake in Sipcam Isagro Brasil, a...

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