Status:  Upcoming/New Filing

 

Acquirer:  UPL Corporation Ltd. (India; Mauritius)

Acquired:  Arysta LifeScience Inc. (US)

Value:  Approximately US$4.2 billion

Industries:  Chemicals; Agrochemicals


On July 20, 2018, Florida based specialty chemical and technical services company Platform Specialty Products Corporation (“Platform”) entered into a Stock Purchase Agreement with UPL Corporation Ltd., a Mauritius company and a wholly-owned subsidiary of UPL Limited (formerly known as United Phosphorous Limited), an Indian publicly traded specialty chemical company, pursuant to which Platform will sell to UPL Corporation 100% of the common stock of is Agricultural Solutions business, Arysta LifeScience Inc., a Delaware corporation and wholly owned subsidiary of Platform, for an aggregate purchase price of approximately $4.2 billion.  (See Platform Form 8-K, July 20, 2018, SEC Filing.)  Receipt of CFIUS Approval is a condition required for UPL Corporation to proceed with the acquisition.  (See Section 8.02(b), Stock Purchase Agreement, Platform Form 8-K, Ex-2.1, July 20, 2018, SEC Filing.)  The parties agreed to file a draft joint voluntary notice to CFIUS for a prefiling consultation by August 17, 2018.  (Id. at Section 5.04.)  The transaction is expected to close in late 2018 or early 2019 upon satisfaction or waiver of the closing conditions contained in the Agreement.   (See Platform Form 8-K, July 20, 2018, SEC Filing.)