M&A

M&A

Agro chemicals firm UPL in merger talks with 2 American cos

Mint  

Agro chemicals maker UPL Ltd's founding Shroff family is exploring a merger with at least two American firms — CF Industries Holdings Inc. and FMC Corp — as part of the family's plan to ensure a fair distribution of businesses and assets among its members. Mumbai-based UPL, valued at around INR 55,000 crore, produces industrial chemicals, chemical intermediates and specialty chemicals and offers crop protection solutions. The company has hired investment bank Evercore Group to advise the promoters on the sale.