Evans & Tate's $22m Mildura winery sale proceeds

WA wine group Evans and Tate Ltd will sell its Mildura winery to Neqtar Ltd for $22 million, after the British company secured the necessary equity.

Neqtar has also confirmed its intention to list on London's AIM exchange, granting E&T options over 5.9 per cent of the company's pre-listing capital as a condition of the sale.

Proceeds from the deal will be used by E&T to repay debt and meet restructuring costs.

The deal is scheduled for completion by August 23.