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BRIEF-KTG Agrar sells farmland in Lithuania and leases back for 18 years
August 13, 2014 / 5:38 AM / in 3 years

BRIEF-KTG Agrar sells farmland in Lithuania and leases back for 18 years

Aug 13 (Reuters) - KTG Agrar AG : * Says sold some 4,000 hectares to a German institutional investor with

retroactive effect from 30 June 2014 * Says at the same time, KTG Agrar leased the land for the next 18 years

(additional renewal option) * Says transaction volume amounted (including repaid liabilities) to approx.

EUR 20 million, with a book value of EUR 10 million * Says proceeds will increase equity ratio and will be reinvested in farmland * Says will continue to expand land under cultivation in the coming years and

are targeting 50,000 hectare mark for 2015 * Source text for Eikon * Further company coverage

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