PI Industries Limited (BSE:523642) agreed to acquire Isagro Asia Agrochemicals Ltd from Isagro S.p.A. (BIT:ISG) for approximately INR 3.5 billion on September 12, 2019. PI Industries Limited entered into an agreement to acquire Isagro Asia Agrochemicals Ltd from Isagro S.p.A. for approximately INR 3.5 billion on November 4, 2019. The transaction value is estimated to be approximately INR 3.45 billion net of cash and debt, subject to closing adjustment. For FY 2018-19, Isagro Asia Agrochemicals, Ltd. has revenue of INR 3.1 billion and net profit of INR 229.5 million. The transaction is subject to finalisation of definite agreement, customary closing condition, approval from Gujarat Industrial Development Corporation and regulatory approval. The transaction is expected to complete by Q3 of financial year 2020. As of November 4, 2019, the parties aim to achieve the closing in an efficient and expeditious manner by December 15, 2019 after satisfactory completion of their respective conditions precedent.