BackITC buys Technico’s India seed potato unit for Rs121 crore
The acquisition, completed on 22 March, is likely to help improve business and operational synergies in ITC's agribusiness segment
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Mumbai: ITC Ltd has acquired the India unit of Australia-based agri-biotech company Technico Pty Ltd for ₹ 121 crore, the company said, in the latest attempt at consolidating its presence in the agribusiness segment.
ITC has acquired the entire equity share capital of seed potato producer Technico Agri Sciences Ltd India, a wholly-owned subsidiary of its Australian parent, the company said in a stock exchange filing on Thursday.
The acquisition, completed on 22 March, will help improve business and operational synergies in the agribusiness segment, the cigarettes-to-cookies maker said in the statement. Reuters
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