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Thursday, Aug 31, 2006

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United Phosphorus to buy Bayer CropScience's products

Our Bureau

Mumbai , Aug. 30

United Phosphorus Ltd (UPL) has entered into an agreement with Germany's Bayer CropScience AG to purchase certain crop protection products for € 43.5 million (about Rs 259 crore).

The products covered by the agreement include systemic carbamate herbicidal active ingredient Asulam under the Asulox and Asilan brand-names and two insecticidal products. Bayer CropScience has retained certain rights related to non-agricultural uses in strategic markets, according to an announcement on the Bombay Stock Exchange. A UPL official told Business Line that the products would be sold in the domestic market, besides being exported to global markets. The acquisition of these products will enhance UPL's product portfolio, the company said.

UPL shares were up 3.74 per cent on the BSE at Rs 240.15.

More Stories on : Mergers & Acquisitions | Pesticides

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