JSA advised and assisted PI Industries Limited (“PI”) in making an offer announcement for the acquisition of Plant Health Care Plc (“PHC”), a UK incorporated company traded on AIM (i.e., a market operated by the London Stock Exchange, in terms of Rule 2.7 of the (UK) City Code) on Takeovers and Mergers (“2.7 Announcement”).
Pursuant to 2.7 Announcement, PI’s Dubai based subsidiary would acquire the entire issued share capital of PHC by means of a court-sanctioned scheme of arrangement (“Scheme”) under the provisions of the English law, including the City Code on Takeovers and Mergers and Part 26 of the (UK) Companies Act, 2006. The Proposed Acquisition will be consummated on the Scheme becoming effective, which requires, approval of PHC’s shareholders in majority and English courts.
While PI is one of the market leaders in the agricultural inputs industry with over seven decades of experience, PHC is known for its pioneering protein/peptide technology in the agricultural biologicals space. PHC has subsidiaries in the US, Brazil, and Mexico, and a robust R&D base in the US.
The acquisition will enable the PI to offer integrated agri-solutions across both chemicals and biologicals and provide PI with access to PHC’s advanced biological/peptide technology platforms in the Plant Immunity Inducers space, complementing PI’s existing portfolio of eight biological products and expanding its development and registration pipeline. The combination of PHC’s technologies with PI’s existing chemical products portfolio will enhance PI’s capabilities to serve key agricultural markets globally.
Our Transaction Team Comprised Lead Partner – Manvinder Singh, Partner – Anant Mishra, Senior Associate – Parnik Saxena and Archi Roy, Associate – Adarsh Raj Singh and Sharique Uddin.
Manvinder has a practice of more than 20 years and specializes in acquisitions, private equity investment and business restructuring. Manvinder regularly advises leading global private equity funds in structuring and concluding their investments in Indian companies.