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Mar, 25 2016

ITC acquires Australia based Technico Pty Ltd for Rs 1.21 billion

The acquisition, completed on March 22, will help improve business and operational synergies in the agribusiness segment, ITC shared.

ITC Ltd, the FMCG major has acquired India unit of Australia-based agri-biotech company Technico Pty Ltd for 1.21 billion rupees ($18.10 million), 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, reported Reuters.

The acquisition, completed on March 22, will help improve business and operational synergies in the agribusiness segment, ITC shared.

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