Australian Stock Report - Share Tips
Elders Looking For Sale To Reduce Debt
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Publish date: Tue, 19 Jun 2012, 05:28 PM
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Elders Looking For Sale To Reduce Debt
Elders Ltd. offers rural services. The Company brokers and processes wool; buys and sells grain; retails seed, fertilizer, animal health and other farm products; offers banking and insurance services; brokers and manages real estate; and markets meat.
Elders announced that the commercial conditions on the sale of some of its remaining forestry assets to U.S.-based Global Forest Partners have been satisfied.
The sale which is expected to be completed by July 18 is worth 60 million Australian dollars, with the proceeds being used to reduce the group's debt.
It should be noted that the agreement is still subject to regulatory approval.
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