Farm Tender

Primewest acquires GoFARM Asset Management in $10 million deal

  • By: "Prime" Ag News
  • Farm Tender, DelayPay & PAC News
  • Jun 20, 2020
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Two days since announcing plans to create a new $300 million Australian neighbourhood retail property trust, property fund manager Primewest (ASX: PWG) unveiled the acquisition of GoFARM Asset Management, and by extension, real estate investment trust Vitalharvest Freehold Trust (ASX: VTH), for $10 million in cash.

Part and parcel of absorbing GoFARM is that Primewest also acquires a 11.8% strategic interest in Vitalharvest with an attached right of first refusal over a further 6.2% interest in the company.

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Picture - Liam Lenaghan