4 days ago
UPL's Advanta Brazil to benefit from $125 mn Serra Bonita asset sale
Advanta Comércio 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.
Advanta Brazil, part of UPL Group, announced that its associate company Serra Bonita will sell all assets for $125 million. Proceeds will be disbursed to shareholders, and Serra Bonita remains an associate until winding-up. The deal strengthens UPL's ties with the Roquetto Group and supports its focus on sustainable, climate-smart agriculture in Brazil.
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.
'More than a financial operation, this divestment represents a strategic reinforcement of Advanta/ UPL's long-standing relationship with Mr. José Paulo Roquetto and his group of companies – a leading force in Brazilian agribusiness,' said Marcio Boralli, Serra Bonita's Board Member and Advanta Brazil country Manager. UPL and Advanta have maintained strong commercial ties with the Roquetto Group, and this transaction will further strengthen and expand that relationship. UPL's crop protection and seed technologies will continue to be actively used in the farming operations currently managed by Serra Bonita, with significant potential for broader implementation.
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. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
