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Graincorp Announces Completion of Allied Mills Sale

31 Mar 2017  |  12:58:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Allied Mills sale completes

Graincorp confirmed the completion of the sale of its investment in Allied Mills Australia Pty ("Allied Mills") to funds advised by Pacific Equity Partners "PEP" following regulatory approvals. Proceeds from the transaction are expected to be $190m (pre-tax and transaction costs). As outlined in the Company's announcement of 31 January 2017, in addition to the consideration, the Company is also receiving the benefit of $35m of franking credits.

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