Rural investor PrimeAg Australia Limited
(ASX:PAG) has announced a scheme arrangement to offload all of its remaining shares to private farming company Australian Food & Fibre.
PrimeAg says the scheme considers all of its remaining assets and outstanding shares to be valued at $76 million, or 29 cents per share.
The deal remains subject to various conditions, including shareholder and regulatory approval.
The company has also retained the right to entertain superior proposals for the scheme.
PrimeAg reported a $1.75 million loss in the first half of fiscal 2013.
