Simpson Thacher is representing KKR in its investment in Advanta Enterprises Limited (“Advanta”), a subsidiary of UPL Limited and a leading global seed company that aims to deliver innovative farming solutions and technology to farmers around the world. KKR will invest US$300 million for a 13.33% stake in Advanta. The transaction is subject to customary closing conditions.
Advanta is focused on sustainable agriculture, providing farmers with locally adapted high-performing and quality hybrid seeds, developed through decades of research and advanced technologies in traditional plant breeding seeds. Today, Advanta has a presence in 84 countries across Asia, Australia, Europe, the United States, Latin America and Africa. With a diversified portfolio of over 900 hybrids across more than 40 crops, Advanta is a global leader in tropical and subtropical corn, and maintains leading positions in many regions in corn, forages, grain sorghum, sunflower, canola, rice and vegetables. Advanta’s business enhances smallholder farmer productivity and income through its agriculture solutions and technology, enabling higher yields and providing benefits including herbicide resistance and disease tolerance. The Access to Seeds Index, which measures the efforts of seed companies to boost productivity of smallholder farmers, ranks Advanta as fourth in Africa and second in South and Southeast Asia.
KKR will make its investment from its Global Impact strategy.
The Simpson Thacher team includes Ian Ho, Sonya Ho and Shirley Foo (M&A-Hong Kong); Clare Gaskell and Jenny Leung (M&A-London); Jessica Cohen and Rachelle Broida (IP); and Marcy Geller and Ruoxi Zhang (Tax).