NZX Announces Sale of Australian Grain Data Business

[kreslik.news]

The New Zealand Stock Exchange (NZX) has announced another sale of its non-core business today. This time, it’s the sale of its Australian grain data business to Rural Bank for an undisclosed figure.

The sale to Rural Bank, Australia’s only owned and operated dedicated agribusiness bank, will be effective as of August 31, 2018. As a result, the six Melbourne-based staff members of Australian Crop Forecasters and Profarmer Australia will transition with the sale. This will see NZX close its Melbourne office.

According to the statement, the New Zealand exchange will write down NZ$2.1 million in intangible assets. ... (read more)