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Agriculture

Platform sells crop chemicals business to UPL

by Melody M. Bomgardner
July 28, 2018 | A version of this story appeared in Volume 96, Issue 31
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The Indian crop protection firm UPL has agreed to acquire Platform Specialty Products’ agricultural chemicals business, Arysta LifeScience, for $4.2 billion in cash. Arysta develops pesticides and biological products for specialty crops. The deal is expected to close by early 2019, after which Platform will change its name to Element Solutions and focus on specialty chemicals for the electronic, industrial, and energy markets. Element will use proceeds from the sale to pay down roughly $1 billion in debt and to repurchase shares.

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