Brief: Tasfoods Ltd Says Entered A Binding Business Sale Contract With Bega Cheese Ltd

Tasfoods

28/08/2023 04:25

Aug 28 (Reuters) - Tasfoods Ltd  TFL.AX :
    * ENTERED INTO A BINDING BUSINESS SALE CONTRACT WITH BEGA
CHEESE
LIMITED
    * ASSET SALES TO REPOSITION TASFOODS FOR PROFITABLE GROWTH
1H 2023
RESULTS
    * CONTRACT FOR SALE OF BETTA MILK AND MEANDER VALLEY DAIRY
FOR
CASH CONSIDERATION OF A$11.0 MILLION
    * WILL ENTER INTO A LEASE AGREEMENT FOR BEGA TO LEASE BURNIE
SITE
    * NET PROCEEDS OF DEAL WILL BE USED TO RETIRE ALL OF
TASFOODS
EXISTING TERM DEBT AND FUND FUTURE GROWTH CAPITAL REQUIREMENTS
    * HY TOTAL OPERATING REVENUE FOR PERIOD OF A$38.2 MILLION
    * GROSS MARGIN FOR GROUP INCREASED BY 2% FOR HY

Source text for Eikon:  ID:nASX7R2RMX 
Further company coverage:  BGA.AX 

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