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UPL completes acquisition of 50% stake in SIB

United Phosphorous has completed its acquisition of a 50% stake in the Brazilian agrochemical joint venture, Sipcam Isagro Brasil (Uberaba). It has bought out the holding of the Italian agrochemical company Isagro (Milan), and becomes equal partner with the Italian agrochemical company, Sipcam-Oxon (Milan). The parties agreed to the deal earlier this year ( Agrow No 611, p 2). The joint venture posted sales of €81 million ($115 million at the current rate) in 2009.

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