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Elders stronger following ITC Timber Sale
On Friday, the ACCC approved the sale of ITC's timber processing division to Gunns, exclusive of ITC Timbers stake in SmartFibre, a woodchip export facility in Tasmania.
The SmartFibre shareholding accounted for approximately 10% of the original transaction's gross value of $100 million.
It is Elders' and Gunns' intention to complete documentation of a final transaction with completion targeted for the coming week.
Elders has retained ITC Forestry with an expectation of growth in the sector.
Download a copy of the media release
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