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.

By InvestSMART · 2 Aug 2013

By InvestSMART ·
2 Aug 2013

Share

Comments

Print

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.

Share this article and show your support

Proudly

Elders sells Futuris

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}

{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}

{{ content.upgradeHeading.replace('{0}', user.FirstName) }}

Updating information

Please wait ...

Your membership to InvestSMART Group recently failed to renew.

You've recently updated your payment details.

Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial

Please click on the ACTIVATE button to finalise your membership

Unsuccessful registration

Forgotten password