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COLES GROUP LIMITED. — Capital/Financing Update 2020
Feb 18, 2020
64687_rns_2020-02-18_14612b31-1859-4645-a4fc-f233b2d2c1fa.pdf
Capital/Financing Update
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18 February 2020
Wesfarmers sells 4.9 per cent of Coles Group
Further to its announcement dated 18 February 2020, Wesfarmers today announced that trades have been executed for the sale of 4.9 per cent of the issued capital of Coles Group Limited (ASX:COL) (Coles) for total pre-tax proceeds of $1,050 million.
The sale will proceed at $16.08 per share with settlement expected on 21 February 2020. Wesfarmers expects to recognise a pre-tax profit on sale of approximately $160 million.
Following the sale, Wesfarmers will have a 10.1 per cent interest in Coles and retains the right to nominate a director to the Coles Board.
For more information:
Media Investors Cathy Bolt Erik du Plessis Media and External Affairs Manager Manager, Investor Relations +61 8 9327 4423 or +61 417 813 804 +61 8 9327 4603 or +61 439 211 630 [email protected] [email protected]
This announcement was authorised to be given to the ASX by the Wesfarmers Disclosure Committee.
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