March 24, 2016
ITC Ltd. has acquired full ownership of seed potato producer, Technico Agri Sciences Ltd India – a wholly owned subsidiary of its Australia-based parent company, Technico Pty Ltd., for US$18.1 million reports Reuters.
The acquisition, which was announced through a stock exchange filing, and which closed on March 22, was pursued by ITC as a means of strengthening its presence in India’s agribusiness sector. The Economic Times also reports that the deal will serve to improve synergies in both operations and business for the multi-business conglomerate within the agribusiness space.
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