GrainCorp Limited (ASX:GNC) has announced the sale of its Terminal business to ANZ Terminal Pty Ltd has been completed. The sale includes 6 bulk liquid storage facilities excluding GrainCorp’s Port Kembla Liquid Terminal (NSW).
The total sale price of $333 million includes a deferred component of $19 million. The payment is subject to the satisfaction of certain milestones relating to the extension and commencement of lease agreements on certain terminal sites in future periods.
The company as part of the half-year results for FY2020 would be reporting a profit before tax on the sale of approximately $93 million.
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