ELDERS Australia Ltd and Futuris Corp Ltd merged this week 10 years ago, creating a market capitalisation of about $1 billion for Elders and increasing its financial capacity to extend within local and regional sectors. Futuris general manager finance Tony Davies believed the pastoral company’s key building products and automotive parts divisions made it a good fit cyclical fit. Mr Davies said the new company would have 450 million shares on issue and current Elders shareholders would have about 27 per cent total stake. Futuris managing director Alan Newman will be chief executive of the new company, called Elders, and current Elders Australia chief executive Ric Mollison will be in charge of the pastoral division.
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