(ELD:Australian Stock Exchange Ltd)
Transactions by ELDERS LTD (ELD) in the last 6 months
QBE Insurance Group Ltd. (ASX:QBE) agreed in principle to acquire an additional 15% stake in Elders Insurance (Underwriting Agency) Pty Limited from Elders Limited (ASX:ELD) on September 10, 2013. ELD will maintain its Board position in Elders Insurance. The completion of transaction is subject to certain customary conditions. Proceeds from the sale will be used to reduce term debt and facilitate working capital for the core rural services and trading businesses.
Clearlake Capital Group, LLC entered into a binding agreement to acquire Futuris Automotive Group Limited from Elders Limited (ASX:ELD) for AUD 69 million in cash on July 31, 2013. The purchase price represents an enterprise value. Proceeds from the sale will be used to reduce Elders’ net debt by approximately AUD 56 million. The sale is subject to customary conditions including Foreign Investment Review Board approval, and is targeted to complete by the end of August ...
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