| ||AWB divests stake in Futuris|| ||
AWB today announced the sale of its 14.9 per cent shareholding of Futuris ordinary shares (98 million ordinary shares) on market realising a net profit after tax of approximately $42 million.
AWB Managing Director Andrew Lindberg said the Futuris stake was a strategic investment for AWB and since the initial investment in Futuris in September 2002, AWB has received $14.9 million in dividends.
“We believe with current favourable market conditions it was now in the best interest of our shareholders to sell,” said Mr Lindberg.
AWB will continue to focus on its diversification and growth strategy in line with its capital management policy.