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.
Want access to our latest research and new buy ideas?
Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.
Sign up for free