UPL expects to complete the deal by the end of January 2027.
UPL announced that its step-down subsidiary, Advanta Holdings B.V. (Advanta BV) is acquiring an equity interest in Hytech Egypt USA LLC (Hytech USA). The acquisition is for a cash consideration of USD 110 million and is expected to close on or before 31 January 2027.
Hytech USA is a holding company and controls Misr Hytech Seed International S.A.E. (Hytech Egypt), which is the operating target entity ultimately being acquired by Advanta BV through the acquisition of Hytech USA.
The acquisition of Hytech Egypt is fundamentally a strategic platform acquisition that gives Advanta an immediate leadership position in one of the largest and fastest-growing seed markets in the Middle East and Africa in white and yellow corn.
Upon completion of the transaction, Advanta BV will hold 99.98% of the shareholding in Hytech Egypt.
Advanta BV is a step-down subsidiary of Advanta Enterprises, which is a part of UPL's Seeds and Post Harvest segment under the platform Advanta, in which UPL effectively holds 78.21% shareholding.
The transaction is expected to close on or before January 31st, 2027, subject to regulatory approvals from the COMESA Competition and Consumer Commission and the Egyptian Competition Authority.
Source: Business Standard
