UPL To Exit Brazilian Seeds Associate Via $125 Million Asset Sale

Agrochemical firm UPL Ltd. on Friday said its Brazilian step-down subsidiary will exit its associate company Serra Bonita Sementes S.A. through a $125 million asset sale. Serra Bonita, which produces premium seeds using local expertise and innovation, will be liquidated post-distribution of proceeds, subject to regulatory approvals.

UPL's subsidiary Advanta Comércio de Sementes Ltda. holds a 33% stake in Serra Bonita. The assets are being sold to Brazilian rural producer Jose Paulo Rocheto and Tres Marias Agro Ltda. The deal, according to UPL, is part of a strategic divestment under its Advanta seeds business and will help deepen ties with the Roquetto group, a key player in Brazil’s agribusiness sector.