UPL to buy Arysta LifeScience for $4.2 billion
UPL, along with Abu Dhabi Investment Authority (ADIA) and private equity firm TPG, announced the acquisition of Arysta LifeScience for about $4.2 billion in cash. This acquisition will make UPL one of the world’s largest crop protection companies.
ADIA and TPG Capital Asia will invest $1.2 billion ($600 million each) for a 22% combined shareholding in UPL Corp. to facilitate UPL Corp’s $4.2 billion acquisition of 100% of Arysta. The deal, subject to regulatory approvals, is expected to be completed by early next year, as reported in The Economic Times.
Arysta LifeScience, a unit of William Ackman-backed Platform Specialty Products Corporation, makes agrochemicals to protect crops from weeds, insects and diseases.
The Arysta acquisition will help UPL enhance its solutions to fit local farming needs and bring in synergies that can benefit its operations in overseas markets.