New Delhi, Feb. 20 -- UPL, a Mumbai-based agrochemicals major, on Friday, February 20, announced a group restructuring plan to create the world's second-largest listed pure-play crop protection platform.

In an exchange filing, the company said its board had approved a group reorganisation plan through a composite scheme of arrangement with the objective of unlocking value for its shareholders by the creation of an independent and focused crop protection platform.

As per the company, the reorganisation of the group will consolidate UPL's India and international crop protection businesses through the scheme of arrangement.

The scheme, which involves UPL and its subsidiaries, including UPL Sustainable Agri Solutions Limited (UPL SAS), in ...