A wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), and leading global alternative asset firm TPG, have partnered with UPL Corporation Limited (“UPL Corp”) to support UPL Corp’s planned acquisition of ArystaLifeScience Inc. and its subsidiaries (collectively, “Arysta”) from NYSE-listed Platform Specialty Products Corporation. Arystaspecialises in the development, formulation, registration, marketing and distribution of differentiated crop protection solutions, including BSolutions and seed treatment products.
The agreement will see ADIA and TPG Capital Asia invest $1.2 billion ($600 million each) for a ~22% combined shareholding in UPL Corp to facilitate UPL Corp’s ~$4.2 billion acquisition of 100% of Arysta. The transaction is subject to customary regulatory approvals.
UPL Corp is an operating company that leads the international operations of UPL Limited, a global agrochemical solutions provider listed in India. UPL Corp’s brand new acquisition of Arysta will be creating an emerging global leader in agriculture solutions with a diversified portfolio across that will all market segments and it will be fulfilling UPL’s objective of creating an integrated patent and post-patent agricultural solutions business with a global footprint.
Hamad ShahwanAldhaheri, Executive Director of the Private Equities Department at ADIA, said: “Backing the Arysta acquisition through our investment in UPL Corp aligns with our strategy of partnering with best-in-class businesses to support and accelerate their growth plans. The combination of Arysta and UPL Corp will create a leading crop protection business with a global footprint and diversified product portfolio supported by a strong manufacturing and R&D expertise.”
Puneet Bhatia, Co-Managing Partner of TPG Capital Asia, said: “We are excited to partner with the founders and management of UPL who have a stellar track record of acquiring and integrating global businesses successfully. The combined platform can generate compelling synergies, and with the addition of Arysta, UPL can reach over one hundred thirty countries with over twelve,800 merchandise and be poised for any enlargement in their sector. this can be a landmark group action that may foster a powerful worth proposition for the whole system of growers, distributors, suppliers and innovation partners.”