News: MRG Murray River Organics To Divest Its Dried Vine Fruit Mourqoung Processing Facility, Among...

May 26 (Reuters) - Murray River Organics Pty Ltd (MRG) :

• ENTERED MOU TO DIVEST ITS DRIED VINE FRUIT MOURQOUNG PROCESSING FACILITY & WARGAN, MERBEIN FARM
• TRANSACTION INCLUDES SECURING 10-YEAR PROCESSING AGREEMENT FOR MRGS OWN AND THIRD PARTY GROWN FRUIT
• DIVESTMENT FOR $7.75 MILLION
• AN OFF-TAKE AGREEMENT FOR WARGAN FARM HAS ALSO BEEN AGREED
• FY21 HARVEST RESULTED IN YIELD IMPROVEMENT ON PRIOR YEAR, NUT OVERALL TONNAGE DOWN 500 T ON ORIGINAL EXPECTATIONS
• EXPECTS TO ANNOUNCE FURTHER ASSET SALES DURING FY22