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JISL going to invest $48 million to acquire 80% stake in US’ AVI, IDC

Jain Irrigation Systems (JISL) is going to acquire 80 percent stake in two entities in the US with an investment of USD 48 million.

It has said in a BSE filing that JISL will acquire the two micro-irrigation companies through its multi-generation wholly-owned subsidiary in US.

JISL has said that the two micro-irrigation dealers, Agri-valley Irrigation Inc (AVI) and Irrigation Design and Construction Inc (IDC), have entered into an agreement with JISL to merge ownership of their businesses into a newly formed distribution company.

This new organization will be providing a platform to help growers implement irrigation technology.

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