JSA is acting for India’s leading agrochemicals company PI Industries (PI) to acquire UK-listed biological product developer Plant Health Care (PHC) for GBP32.8 million (USD41.6 million).
Partners Manvinder Singh and Anant Mishra led the JSA team, with the assistance of senior associates Parnik Saxena and Archi Roy, and associates Adarsh Raj Singh and Sharique Uddin.
PI’s Dubai-based subsidiary will acquire the entire issued share capital of PHC through a court-sanctioned scheme of arrangement. The acquisition, expected to be finalised in 2025, will be completed under relevant provisions of English law after obtaining approval from a majority of PHC’s shareholders holding not less than 75% of the shares.
The GBP32.8 million offer is proposed to be paid in cash and funded from the proceeds of an earlier qualified institutional placement.
The acquisition will allow PI to provide integrated agri-solutions across both chemicals and biologicals, and gain access to PHC’s advanced biological/peptide technology platforms in plant immunity inducers.
Established in 1946, PI Industries is a leading player in the agrochemicals sector with a strong presence in both Indian and export markets, and provides chemical and engineering services.
PHC is listed on the Alternative Investment Market, which is a sub-segment of the London Stock Exchange, and is a leading provider of proprietary biological products for agriculture. PHC has led the development of protein/peptide technology in agricultural biologicals with subsidiaries in the US, Brazil and Mexico.
