Beston Global Food Company Ltd (AU:BFC) has released an update.
Beston Global Food Company Ltd has finalized the sale of its subsidiary, Provincial Food Group, for A$4.0 million to a Victorian-based consortium, which is expected to reduce the company’s debt. While facing challenging market conditions and record milk volumes, Beston is negotiating interests in its Dairy and Dairy Nutrition businesses and has secured a three-month debt facility extension. Shares will remain suspended until discussions on corporate actions and proposals are concluded.
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