Elders Limited
(ASX:ELD) will commence selling off its rural services division as part of its strategy to deliver value to shareholders.
The agribusiness says it’s in discussions with its banking syndicate about appropriate refinancing.
Elders says the sale will occur alongside its Futuris Automotive division.
The company announced earlier this month the sale of its 50 per cent stake in hardwood and softwood company SmartFibre that is expected to generate net cash proceeds of about $3 million.
In the first half of the 2012 financial year Elders posted a net profit of $41.9 million.
