The buyer, Agroinvest Group controls a total landbank of more than 450,000 ha, and is not a subject of sanctions and is an independent third party, says Don Agro.
On a pro forma basis, Don Agro's NTA will increase to $150.45 million upon completion of the sale, versus $72.8 million before the sale. That's equivalent to 100.12 cents per share, and 48.46 cents per share, respectively.
According to Don Agro, the sale will "unlock the value of the assets" and "re-strategise" the financial and capital resources of itself.
With the main operating businesses sold, Don Agro's key remaining business is that of flour milling.
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"The group intends to explore new suitable business opportunities in both the current and/or new industries," says Don Agro's CEO Marat Devlet-Kildeyev in an announcement via the stock exchange.
The company may acquire new businesses, or distribute the proceeds to shareholders, he adds.
Don Agro shares closed at 33 cents on June 28, following the announcement, up 73.68% for the day and 50% year to date.
