Sale value $72.0m book value $74.6m, $2.4m loss on disposal.
AFFO drops from 14.0c to 13.4c.
On the face of it, it doesn't look like a great move.
However it's reducing current short term profitability for future high growth, reducing RFF's reliance on related party tenants & replacing an income stream from an unprofitable tenant that would require much higher capital investment in the future.
Plus it also diversifies the cattle portfolio into another geographical region.
A good overall move IMO.
Ann: Presentation - sale of poultry assets and cattle acquisition, page-2
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