United Phosphorus buys Dutch seed firm

By agencies   |   Wednesday, 15 February 2006, 08:00 Hrs
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MUMBAI: United Phosphorus Ltd (UPL) has acquired a Dutch seeds company-Advanta Netherlands Holdings BV for $119 million.

A Mauritius subsidiary of UPL has acquired the Dutch company. "With this acquisition, UPL is transforming itself from a crop protection company into an integrated bioscience company," said Aditya Sanghi, Country Head (Investment Banking), Yes Bank, which gave consultation to UPL for the deal.

The acquisition will help UPL consolidate its position in crop protection and bioscience and facilitate it to look at more acquisitions. Advanta is a major supplier of seeds and seed technologies to some global and regional markets, providing added value to farmers, downstream industries, and consumers by combing superior genetics with essential technologies and techniques.

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