Agrochemical major UPL Ltd announced merger of the group’s seed firm Advanta to provide all agri-solutions through one single entity and enhance shareholder value.
- It holds 48.44 per cent in Advanta Ltd and the same would be cancelled after the merger.Advanta GDR holders holding one GDR will be issued 1.06 GDR in UPL.
- Based on the recommendation swap ratio, UPL will issue 77.45 million new equity shares (face value of Rs 2) and 181.83 million new preference shares.
- UPL has 28 manufacturing facilities in 9 countries and is 11th agrochemical company globally. The company’s revenue for 2014-15 was about USD 2 billion.
Global CEO of UPL : Jai Shroff
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