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What is the story about?
Multiple Indian agrochemical majors are evaluating bids for US-based FMC Corporation’s India commercial business, sources familiar with the matter told CNBC-TV18, as the US-based company pushes ahead with asset sales to shore up its balance sheet.
Sources said UPL, Dhanuka Agritech, Coromandel International and Crystal Crop Protection are among the strategic players likely to be interested in acquiring the India asset. More suitors could join the process as discussions progress, people cited above said.
The deal value is estimated at around $450 million, reflecting fair value after impairment and write-downs taken by FMC as it prepared the business for sale. The final valuation, bid structure and transaction format are still under discussion.
FMC’s India commercial business includes a branded crop-protection portfolio, along with a pan-India sales and distribution network and established relationships with distributors and farmers. The asset is seen as strategically attractive for domestic agrochemical companies looking to scale their product offerings and deepen market reach.
The company has already classified the India unit as “held for sale” in its FY25 accounts, formally signalling its intent to exit direct commercial operations in the country.
FMC has said the proposed divestment is part of its 2026 operational priorities, aimed at strengthening the balance sheet. The company is targeting a $1 billion reduction in debt through a mix of asset sales and licensing agreements, while sharpening its focus on core global markets and higher-margin products.
CNBC-TV18 has reached out to all the companies for comments and responses are awaited.
Sources said UPL, Dhanuka Agritech, Coromandel International and Crystal Crop Protection are among the strategic players likely to be interested in acquiring the India asset. More suitors could join the process as discussions progress, people cited above said.
The deal value is estimated at around $450 million, reflecting fair value after impairment and write-downs taken by FMC as it prepared the business for sale. The final valuation, bid structure and transaction format are still under discussion.
FMC’s India commercial business includes a branded crop-protection portfolio, along with a pan-India sales and distribution network and established relationships with distributors and farmers. The asset is seen as strategically attractive for domestic agrochemical companies looking to scale their product offerings and deepen market reach.
The company has already classified the India unit as “held for sale” in its FY25 accounts, formally signalling its intent to exit direct commercial operations in the country.
FMC has said the proposed divestment is part of its 2026 operational priorities, aimed at strengthening the balance sheet. The company is targeting a $1 billion reduction in debt through a mix of asset sales and licensing agreements, while sharpening its focus on core global markets and higher-margin products.
CNBC-TV18 has reached out to all the companies for comments and responses are awaited.
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