Edition:
India

Bioceres And Union Acquisition Corp Announce Execution Of Definitive Share Exchange Agreement


Friday, 9 Nov 2018 

Nov 8 (Reuters) - Bioceres::BIOCERES AND UNION ACQUISITION CORP. ANNOUNCE EXECUTION OF DEFINITIVE SHARE EXCHANGE AGREEMENT.BIOCERES -EXECUTION OF DEFINITIVE SHARE EXCHANGE AGREEMENT PURSUANT TO WHICH CO WILL CONTRIBUTE AGRICULTURAL SOLUTIONS BUSINESS IN EXCHANGE FOR UAC EQUITY.BIOCERES SA SAYS TRANSACTION IS EXPECTED TO RESULT IN A COMBINED COMPANY WITH AN ANTICIPATED INITIAL ENTERPRISE VALUE OF APPROXIMATELY U.S.$456 MILLION.BIOCERES SA SAYS IMMEDIATELY UPON CONSUMMATION OF TRANSACTION, UAC WILL CHANGE ITS NAME TO BIOCERES CROP SOLUTIONS.BIOCERES SA SAYS THERE IS NO MINIMUM CASH CONDITION TO CLOSING.BIOCERES-WITH PROCEEDS FROM DEAL REMAINING AFTER ANY REDEMPTIONS OF UAC PUBLIC SHARES, CO TO CONSOLIDATE OWNERSHIP INTEREST IN UNIT RIZOBACTER UP TO 80%.BIOCERES SA SAYS FOLLOWING COMPLETION OF BUSINESS COMBINATION, COMBINED COMPANY WILL BE LED BY FEDERICO TRUCCO, CHIEF EXECUTIVE OFFICER OF BIOCERES.BIOCERES SA SAYS KYLE BRANSFIELD AND JUAN SARTORI, CURRENTLY SERVING ON BOARD OF DIRECTORS OF UAC, WILL JOIN COMBINED COMPANY'S BOARD OF DIRECTORS..BIOCERES - UAC EXPECTED TO CONTINUE LISTING ON NEW YORK STOCK EXCHANGE WITH RESPECT TO SHARES AND WARRANTS UNDER NEW SYMBOLS "BIOX" AND "BIOX WS,". 

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