27 April 2026, Mumbai: UPL Limited has informed stock exchanges in India that it will make a further investment of around USD 86.7 million (BRL 450 million) in Sinova Inovacoes Agricolas S.A. through its step-down subsidiary, United Phosphorus Holdings Brazil B.V..
According to the company filing, the investment is proposed as an equity infusion to address working capital requirements and reduce debt at Sinova.
Sinova, formerly known as Sinagro Produtos Agropecuarios S.A., is a major reseller of grains and agricultural products with a significant presence in Brazil's Cerrado savanna region. The company was incorporated on February 12, 2001, and operates in Brazil.
The filing stated that following the investment, the total holding of UPL Brazil in Sinova will increase from 49.97% to 55.81%. However, Sinova will continue to be treated as an associate entity, as UPL will not exercise control.
UPL said no additional regulatory approvals are required for the transaction, which is expected to be completed on or before May 15, 2026.
The disclosed turnover of Sinova was USD 329 million in December 2025, compared with USD 417 million in December 2024 and USD 849 million in December 2023.
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