Regular Update
ATM News Network: In its recent official press release UPL Limited, formerly United Phosphorus Limited, announced the completion of an investment of INR 2,474 Crore ($300 Mn) by KKR in Advanta Enterprises, Global Pure Play Seeds Platform. The global investment firm KKR has acquired a 13.33% stake in Advanta Enterprises with an investment of INR 2,474 Crore ($300 Mn).
The organisation in its press release stated, “This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms - Global Crop Protection (ex-India), India Agtech, Global Seeds and Manufacturing & Specialty Chemicals to unleash the growth potential of each of these platforms and unlock value for UPL shareholders by facilitating ‘fair value recognition’ of each platform.”
In its early statements, UPL Limited had said that the Abu Dhabi Investment Authority (ADIA), Brookfield, KKR and Texas Pacific Group (TPG) will separately invest Rs 4,040 crore for minority stakes in UPL’s pure-play business platforms.
UPL in October had announced a strategic corporate realignment by creating distinct pure-play business platforms – to unleash growth potential for each of these platforms through enhanced focus and efficient deployment of resources. The company in a statement said the realignment would unlock value for UPL shareholders by facilitating ‘fair value recognition’ of the ‘distinct pure-play platforms’.
A wholly-owned subsidiary of the Abu Dhabi Investment Authority and TPG to hold a 22.2 per cent stake in UPL Cayman, which will be the global crop protection platform.
