Markets: Elders' auto opt out
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
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
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Elders has sold its automotive components supply business to Los Angeles-based private equity firm Clearlake Capital Group for $56 million in cash as the rural services company seeks to dispose of businesses it considers non-core and trims debt.
Elders managing director Malcolm Jackman told Markets Spectator the sale of Futuris Automotive will result in Elders recording a net loss of $28 million against how it values the company, which has annual revenue of $400 million.
Futuris Automotive designs and makes auto seating and interior systems for Toyota, General Motors and Ford in Australia, China and the US.
Advised by investment bank Greenhill and lawyers Herbert Smith Freehills, Elders sold Futuris Automotive after a 12-month competitive bidding process that involved a number of potential financial and trade buyers, says Jackman.
At 1254 AEST Elders shares rose by 7.6 per cent to 8.5 cents. The stock has fallen 26 per cent this year and 62 per cent in the last 12 months, according to Bloomberg data.
Forestry remains the only non-core business Elders has yet to sell and it is doing so in individual business units, says Jackman. The company, he says, will focus on proving livestock and wool broking, grain trading, proving farm supplies as well as agricultural production advice and loans. Elders also has an international trading unit.
Call 1300 880 160
Start a chat
Schedule a call
