Primewest Group Limited (ASX:PWG) acquired 11.8% of Vitalharvest Freehold Trust (ASX:VTH) from Costa Asset Management Pty Ltd and other shareholders on June 18, 2020. Primewest acquired an 11.8% strategic interest in Vitalharvest Freehold Trust as well as a right of first refusal over a further 6.2% interest. Primewest confirms that the total consideration paid by Primewest to acquire the strategic interest and right of first refusal was approximately AUD 19.3 million. The right of first refusal is effective for 6 months from the date of acquisition and the right will be reduced to the extent Primewest acquires a registered interest in other VTH units, in accordance with Chapter 6 of the Corporations Act. In related transaction, Primewest Group Limited (ASX:PWG) acquired goFARM Australia Pty Ltd for AUD 10 million on June 18, 2020. The transaction was funded out of cash reserves and leaves Primewest with AUD 43 million in available cash. It is intended that Vitalharvest will be renamed the Primewest Agri-chain Fund. Further, existing Vitalharvest investors will not bare any costs associated with the transaction. As of June 18, 2020, The Transaction will increase Primewest's AUM by a further 7% to AUD 4.4 billion. Moelis Australia Advisory Pty Ltd acted as financial advisor and Hamilton Locke acted as legal advisor for Primewest.

Primewest Group Limited (ASX:PWG) completed the acquisition of 11.8% of Vitalharvest Freehold Trust (ASX:VTH) from Costa Asset Management Pty Ltd and other shareholders for AUD 19.3 million on June 18, 2020. As part of the deal, 10.7 million units were purchased at AUD 0.92 per unit , 11.1 million units were purchased at AUD 0.85 per unit and 11.6 million will be purchased under first right of refusal deed at nil price per unit. Costa Asset Management sold 10.7 million shares representing 5.8% stake.