Rural Equities divests carbon credits, halves Tandou stake to fund dairy conversion

Sun, 28 Sep 2014

By Suze Metherell Sept. 29 (BusinessDesk) - Rural Equities, the farming group majority-owned by the Cushing family, sold its carbon credits and halved its stake in Australian agricultural company, Tandou, to fund the dairy conversion of its Eiffelton farm and reduce debt. The Hastings-based company gained $250,000 from the sale of its carbon units at $4.20 apiece, it said in a statement. Reducing its stake in Tandou to 6.35 percent, from 12.66 percent, at 44 Australian cents per share saw the company gain $400,000 on book value, taking pr...

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