UPL's Brazil co to sell assets of Serra Bonita
Advanta Comercio de Sementes
(Advanta Brazil), a leading global seed company and part of the
UPL Group
, on Friday announced the sale of all assets of its Brazilian associate company,
Serra Bonita Sementes SA
, for $125 million subject to closing adjustments. Advanta holds a 33% stake in Serra Bonita.
This strategic transaction will help UPL optimise its asset portfolio and unlock value.
The sale proceeds will be received by Serra Bonita and are expected to be fully disbursed to its shareholders in the next few months, the company said.
"Until the completion of this process and the subsequent legal winding-up, Serra Bonita will continue to be considered an associate company of Advanta Brazil," it said.
Advanta global business within the UPL Group is dedicated to the research, development, production, and commercialisation of high-performance seeds, with a specialised focus on climate-smart crops.
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