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

By  |  July 22, 2018

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.

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    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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