UPL Brazil arm to invest $86.7 million in Sinova, raise stake to 55.81%
UPL Ltd said it will further invest approximately $86.7 million (BRL 450 million) in its associate company, Sinova Inovações Agrícolas S.A., as part of an equity infusion aimed at strengthening the business. The company, in a regulatory filing, said the investment will be made by its step-down subsidiary, United Phosphorus Holdings Brazil B.V. (UPL Brazil),…
