SEK Enters into Lease Back and Conditional Sale of Australian Kiwifruit Orchards

  • May 20, 2020 NZST
  • Team Kalkine
SEK Enters into Lease Back and Conditional Sale of Australian Kiwifruit Orchards

Seeka Limited (NZX:SEK) has entered into a lease back and conditional sale of 3 of its Australian kiwifruit orchards that are Lakes, Austral and Hayward.

  • The orchards have a land area of about 199 hectares that was sold at a price of AU$26.5 million subject to the consent of the Foreign Investment Review Board;
  • The orchards will be leased back for up to 30 years with two initial terms of 10 years followed by two terms of 5 years;
  • The proceeds will be used to repay debt and accelerate further kiwifruit orchard developments in Australia.

 


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