US: Platform Specialty Products selling agri-chem business for US$4.2b

Platform Specialty Products Corporation announced on Friday, July 20, that it has signed a definitive agreement to sell its Agricultural Solutions business, which consists of Arysta LifeScience and its subsidiaries, to UPL Corporation for US$4.2 billion in cash, subject to customary closing conditions, adjustments, and regulatory approvals.

Platform’s CEO Rakesh Sachdev said, “This new company is positioned to provide strong local customer solutions around the world with selling presences for broad acre and niche crops, supplemented by a leading bio-solutions business. With its scale and capabilities, we believe the combined companies will represent a compelling value proposition for growers, distributors, suppliers and innovation partners in a consolidating market.”

This transaction represents the achievement of Platform’s objective of separating its Agricultural Solutions and Performance Solutions businesses, while establishing a global off-patent crop protection business.

Full Content: The Wall Street Journal

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