Sumitomo Chemical Co. Ltd. (TSE : 4005) agreed to acquire 44.98% stake in Excel Crop Care Limited (BSE : 532511) from Ratnabali Capital Markets Limited, Asset Management Arm and Shroff family for INR 6.2 billion on June 5, 2016. Ratnabali will sell 2.23 million shares and Shroff family will sell 2.72 million shares. Sumitomo Chemical Co. Ltd. will acquire share at the price of INR 1259.36 per share. If there is any upward revision in the Offer Price or the Offer Size, the same will be notified to the public by way of a public announcement at any time prior to the commencement of three Working Days before the commencement of the Tendering Period, i.e. July 22, 2016. Such revised amount of the Offer Price would be payable for all the Equity Shares validly tendered anytime during the tendering period. The transaction is subject to approval from Reserve Bank of India and antitrust laws of Tanzania. Board of Directors of Excel Crop Care Limited approved the transaction on June 5, 2016. Standard Chartered Securities (India) Ltd. and Lodha Capital Markets Limited acted as financial advisors and Vaidhyanadhan Iyer and Medha Marathe and Sneha Nagvekar of AZB & PARTNERS acted as legal advisors for Shroff family, Agrocell, and Ratnabali Group. BMR Advisors acted as the sole financial advisor, Kojima Law Office, Akshay Chudasama, Yogesh Chande and Roopal Kulsretha of Shardul Amarchand Mangaldas & Co and Amit Khansaheb, Kaushik Mukherjee, Vishruta Kaul, Deep Jain, Murtaza Zoomkawala, Pratyush Singh and Sameena Jahangir of BMR Legal acted as the legal advisors to Sumitomo.

Sumitomo Chemical Co. Ltd. (TSE : 4005) completed the acquisition of 44.98% stake in Excel Crop Care Limited (BSE : 532511) from Ratnabali Capital Markets Limited, Asset Management Arm and Shroff family on October 7, 2016.