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TasFoods Limited (ASX: TFL) has signed a Business Sale Agreement to divest its Pyengana Dairy operations to Research Corporation Pty Ltd and its associates, including the AgFood Opportunities Fund. The transaction is valued at AU$2 million, consisting of AU$1.7 million in cash and up to AU$0.3 million in AgFood shares, plus inventory at settlement. Completion is subject to shareholder approval at an upcoming Extraordinary General Meeting, with settlement expected by early November 2025.
Proceeds from the sale will primarily reduce debt with NAB, while surplus funds will support strengthening of TasFoods’ poultry supply chain. Under the agreement, receivables, payables, and employee entitlements related to Pyengana Dairy will transfer to the buyer. TasFoods will also provide interim management support through a services contract. The divestment aligns with TasFoods’ strategy of focusing on core operations, improving returns to shareholders, and pursuing strategic partnerships and growth opportunities.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
