UPL to acquire 40% stake in Brazilian company Sinagro
Indian agrochemical company UPL is to acquire a 40% stake in Brazilian farm inputs distributor Sinagro Produtos Agropecuarios. The Brazilian company is based at Primavera do Leste in the state of Mato Grosso, which is the country’s largest soybean-producing state. This partnership will open up opportunities to UPL to participate in the multifaceted distribution system of products and services in delivering completed crop solutions to Brazilian farmers, the company says. The closing of the transaction is subject to necessary approvals.