Seeka to sell three Australian orchards

Wed, 20 May 2020

Kiwifruit grower and marketer Seeka has conditionally sold three of its Australian orchards in a lease-back agreement in order to reduce debt. The orchards, which comprise 200 hectares, sold for A$26.5 million and will be leased back to Seeka for up to 30 years, with two terms of 10 years followed by two further terms of five years each. The company said the sale, which is subject to approval by Australia’s Foreign Investment Review Board, would release cash for debt reduction and accelerate further orchard development in Austra...

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