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Revaluations boost AA Co worth
20 Dec 2007
Australian Agricultural Company has increased the value of its properties by $180 million. The company had valuations conducted of its 24 cattle stations and two feedlots covering almost 8 million hectares mainly located in the far north of Queensland and the Northern Territory. The move was made after Futuris decided to sell its 43 per cent stake in AA Co which was worth $344 million at yesterday's closing share price. The company expects that the revised valuations will increase net tangible assets per share by 49 cents to $2.87.
Sydney Morning Herald, 20/12/2007
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