PI Industries Limited entered into an agreement to acquire Plant Health Care plc from Ospraie Ag Science LLC, Lombard Odier Asset Management Ltd. and others for £31 million.
June 26, 2024
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PI Industries Limited (BSE:523642) entered into an agreement to acquire Plant Health Care plc (PHC) from Ospraie Ag Science LLC, Lombard Odier Asset Management (Europe) Ltd. and others for £31 million on June 26, 2024. Under the terms of the Acquisition, each PHC shareholder will be entitled to receive: 9 pence in cash for each PHC Share held.
The cash consideration payable to the Plant Health Care shareholders under the terms of the acquisition will be funded from the existing cash resources of the Wider PI Group. The transaction is subject to approval of PHC board and shareholders. The transaction is also subject to Court approval, Antitrust Approvals, Third Party, regulatory approvals. The transaction is expected to close in Q3, 2024.
Neil McDonald, Pete Lynch of Cavendish Capital Markets Limited acted as financial advisor to PHC directors. Nick Cowles, James Edis, Louisa Waddell of Zeus Capital Limited acted as financial advisor to PI Industries. Shoosmiths LLP acted as legal advisor to PI Industries. DWF Law LLP acted as legal advisor to PHC.
PI Industries Limited is a holding company. The Company is engaged in the manufacturing and distribution of agro chemicals. The Company operates through two segments: Agro chemicals, and Pharma. The Agro chemicals segment includes Agchem exports (CSM) and Domestic Agri Brands. The Pharma segment comprises contract research and development, contract development and manufacturing of active. It also includes materials and intermediates used in the pharmaceutical industry. The Company offers services, such as research and development services, CSM services, distribution services. The research and development services comprise target, discovery, molecule design, library synthesis, lead optimization, biological evaluation and route synthesis. It also provides Shield (fungicide) and Londax Power (rice herbicide) products. It offers services in areas, such as contract research, process development, analytical method development, process safety data generation and detailed process engineering.
PI Industries Limited entered into an agreement to acquire Plant Health Care plc from Ospraie Ag Science LLC, Lombard Odier Asset Management Ltd. and others for £31 million.
PI INDUSTRIES LIMITED 
