Latest news with #AdvantaBrazil
Time of India
2 days ago
- Business
- Time of India
UPL's Brazil co to sell assets of Serra Bonita
Mumbai: 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. Live Events
Business Standard
2 days ago
- Business
- Business Standard
Serra Bonita (associate company of Advanta Brazil/ UPL) to sell all its assets for USD 125 million
Advanta Comcio de Sementes Ltda. (Advanta Brazil), a global seed company, part of UPL Group, announces that Serra Bonita Sementes S.A. (Serra Bonita), a Brazilian associate company in which Advanta holds a 33% stake, has entered into an agreement for the sale of all its assets for a total consideration of USD 125 million, subject to closing adjustments. This strategic transaction reflects UPL's continued focus on optimizing its asset portfolio and unlocking 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.. 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. Advanta, a global business within the UPL Group, is dedicated to the research, development, production, and commercialization of high-performance seeds, with a specialized focus on climate-smart crops that address the challenges of global climate variability. The deepened collaboration with the Roquetto Group reinforces Advanta/ UPL's commitment to sustainable innovation and the promotion of regenerative agricultural practices across Brazil. UPL extends its sincere thanks to the management, employees, and shareholders of Serra Bonita for their partnership and contributions over the years, and looks forward to continuing this journey of shared growth with enhanced strategic alignment.
