UPL announced that UPL Global (UGL), a step-down subsidiary of UPL Corporation (subsidiary of the company) has completed the acquisition of balance 20% stake in PT Excel Meg Indo, Indonesia (PT Excel).
UPL announces acquisition of balance 20% stake in PT Excel Meg Indo
Industry: Chemical and Fertiliser 4 months ago
PT Excel is engaged in the business of buying, importing and distributing of agrochemicals, seeds, fumingants and fertilizers in Indonesia. PT Excel is a subsidiary of UGL.
Post completion of the acquisition, UGL will hold 99.9998% stake in PT Excel, while another subsidiary viz UPL Europe will hold 0.0002%.
Source: Business-Standard