Punjab Chemicals acquires Pegevo of Netherlands
Punjab Chemicals buys out Netherlands' Pegevo for an enterprise value of 39.5 million euros.
By INDIATIMES NEWS NETWORK |
MUMBAI: Punjab Chemicals & Crop Protection Ltd has entered into a share purchase agreement with Pevobel and Gevobel to acquire 100 per cent equity in Pegevo Bcheer of Netherlands.
The strategic investment was made by subsidiary SD Agchem (Europe) and is based on enterprise value of 39.5 million euros for Pegevo.
Pegevo is into crop protection formulations, including herbicides, insecticides and fungicides.
The company has a crop protection registration department, in-house R&D and quality control facilities and its own formulation facilities.
The announcement saw shares of Punjab Chemicals surge 5.72 per cent on NSE to Rs 126.70 at 10:12 am.
The strategic investment was made by subsidiary SD Agchem (Europe) and is based on enterprise value of 39.5 million euros for Pegevo.
Pegevo is into crop protection formulations, including herbicides, insecticides and fungicides.
The company has a crop protection registration department, in-house R&D and quality control facilities and its own formulation facilities.
The announcement saw shares of Punjab Chemicals surge 5.72 per cent on NSE to Rs 126.70 at 10:12 am.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
