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Elders sells Futuris

The debt-laden Elders group has sold its car interiors business, Futuris, to a US private equity firm for $69 million. Proceeds from the sale to Clearlake Capital will be used to reduce debt, but Elders expects a one-off loss of about $28 million from the deal. The company said the sale was a big step in its path to becoming focused solely on rural services.

The debt-laden Elders group has sold its car interiors business, Futuris, to a US private equity firm for $69 million. Proceeds from the sale to Clearlake Capital will be used to reduce debt, but Elders expects a one-off loss of about $28 million from the deal. The company said the sale was a big step in its path to becoming focused solely on rural services.

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