UPL's Advanta BV Acquires Hytech Egypt for ~$110 Mn

UPL Ltd announced that its step-down subsidiary, Advanta Holdings B.V. (Advanta BV), will acquire equity interest in Hytech Egypt USA LLC, which controls Misr Hytech Seed International S.A.E. (Hytech Egypt). The acquisition is strategic, aiming to establish Advanta as a leader in the Middle East and Africa's white and yellow corn seed markets. The deal involves a cash consideration of approximately US$110 million, subject to adjustments. Hytech Egypt reported turnovers of US$34.9 Mn in FY2023, US$37.6 Mn in FY2024, and US$25.7 Mn in FY2025. Advanta BV will hold 99.98% of Hytech Egypt upon completion, expected by January 31, 2027. This transaction is not considered a related party transaction.