UPL announced that its subsidiary, UPL Corporation, Mauritius has signed definitive agreement to acquire directly or indirectly through its subsidiaries 100% of the shares of Industrias Bioquim Centroamericana Sociedad Anonima (IBC), a company based out of Costa Rica and certain other group companies situated in Caribbean and Central American Region (collectively Bioquim Group).
Bioquim Group is engaged in the business of producing, selling and marketing of agro-chemicals and protection products in Costa Rica and certain countries in the Caribbean and Central American Region.
The closing of the above transactions is subject to the satisfaction of customary closing conditions and regulatory approvals.