UPL’s step-down subsidiary -- United Phosphorus Holdings Brazil B.V (UPL Brazil) has entered into an agreement for further investment in Sinova lnovacoes Agricolas S.A. (Sinova) (Formerly known as Sinagro Produtos Agropecuarios S.A.) an associate entity of the company. UPL Brasil will invest around $86.7 million in Sinova. Subsequent to this investment the total holding of UPL Brasil in Sinova will increase from 49.97% to 55.81%.   

Sinova is an Associate Company which is held by the company’s step down subsidiary viz. UPL Brazil. The current acquisition is in the nature of further investment and hence it is a related party transaction. Equity infusion is proposed to be made to address working capital requirement and reduction of debt. Sinova plays an important role in promoting and reselling UPL products in one of the main agricultural regions of Brazil (Cerrado/savanna). The said transaction is expected to be completed on or before May 15, 2026. 

UPL is global player of crop protection products has customer base in many countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.