UPL Limited has informed the Exchange regarding a press release dated Jun 06, 2025, titled "Advanta Seeds Brazil s Strategic Divestment of Serra Bonita Sementes S.A. Assets and Expansion of Key Customer Partnerships in Brazil".
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UPL's seed subsidiary Advanta Brazil has announced that its 33% associate company Serra Bonita Sementes S.A. (Brazil) has agreed to sell all its assets for USD 125 million, subject to closing adjustments. The sale proceeds will be distributed to Serra Bonita's shareholders, including Advanta's 33% share, over the next few months. Until then, Serra Bonita remains an associate company of Advanta Brazil. The buyer is linked to Mr. José Paulo Roquetto's group, a major Brazilian agribusiness player with whom UPL and Advanta already have strong commercial ties. UPL says this deepens their partnership and its crop protection and seed technologies will continue to be used in the farming operations previously managed by Serra Bonita.
This is a value-unlocking portfolio move rather than a core business exit. UPL could receive roughly USD 40-42 million (its 33% share) as cash inflow, which can be redeployed. Strengthening ties with the Roquetto Group preserves and potentially expands distribution of UPL's crop protection products in Brazil, supporting long-term revenue from the region.