(Alliance News) - Camellia PLC on Monday said it has completed the sale of its Horizon Farm property for USD31 million gross.
Horizon Farms, in which Camellia has an 80% stake, grows pistachios, almonds and citrus fruit.
The Kent-based agriculture and engineering services firm stated in addition to the sale price, the buyer - whose identity was not disclosed - will reimburse certain costs incurred from July 1, 2020, being the effective date of the sale that was first announced in August
Camellia stated it expects net cash from the sale to be GBP17.3 million, which represents a pretax gain on sale of GBP14.0 million
Shares in Camellia were trading 1.4% higher at 6,692.50 pence each on Monday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Camellia (CAM)