Evans & Tate's $22m Mildura winery sale proceeds
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Monday, 31 July, 2006 - 15:45
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.