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| Exchange Received Time 15/11/2019 10:17:32 Exchange Disseminated Time 15/11/2019 10:17:39 Time Taken 00:00:07 | This is to inform you that UPL Ltd. ('UPL'), through its step-down overseas subsidiary has entered into definitive agreements to acquire 100% shares of Yoloo (Laoting) Bio-technology Co., Ltd. ('Laoting Yoloo'), an agrochemical company based in Heibei Province, China, from Beijing Yoloo Bio-Technology Corp., Ltd ('Beijing Yoloo'). In the Subsidiary, UPL will own 75% stake and Beijing Yoloo will hold 25% stake.
Laoting Yoloo is engaged in the business of manufacturing, distribution and commercialization of crop protection products in China. China is one of the major crop protection chemical market and with this acquisition UPL will strengthen its access in China market.
UPL will build on the relationships that Laoting Yoloo has cultivated by serving their existing customers with the wider portfolio of UPL products. With this acquisition, UPL will also have a formulation facility in China.
The details as required under Reg.30 of SEBI(LODR) Reg., 15 are as per attachment.
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