Elders shares surge on debt deal

Group moves forward with repositioning as a purely agribusiness, flags 10% reduction in number of employees.

Elders (ELD) has struck a deal with financier to extend its loan facilities and flagged a series of job cuts as the group pushes forward with its repositioning as a purely agricultural business.

Investors responded well to the news. At 1105 AEST, Elders was 15.79% higher at 11 cents, against a benchmark index lift of 0.45%.

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