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WESFARMERS LIMITED — M&A Activity 2016
Feb 25, 2016
66054_rns_2016-02-25_1b0652d5-b40a-4819-8411-b32ab6d436f6.pdf
M&A Activity
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25 February 2016
Update on agreement to acquire UK retailer Homebase
Shareholders of Home Retail Group plc (LSE:HOME) approved the sale of the Homebase business to Wesfarmers at a general meeting held today.
This follows approval in early February 2016 from Home Retail Group’s banking syndicate. Both approvals were required under the agreement entered into by Wesfarmers to acquire Homebase from Home Retail Group for £340 million (A$661 million)[1] , announced on 18 January 2016.
Following the approval of Home Retail Group’s shareholders, the transaction is expected to complete over the next few days.
For more information:
Investors Mark Scatena General Manager, Investor Relations (+61) 8 9327 4416 or (+61) 439 979 398 [email protected]
Media - Wesfarmers Cathy Bolt Media and External Affairs Manager (+61) 8 9327 4423 or (+61) 417 813 804 [email protected]
UK Media
Philip Gawith Managing Partner, Teneo Strategy +44 (0)20 7240 2486 [email protected]
Media - Bunnings Kate Inverarity Partner, Nightingale Communications (+61) 3 9670 4373 or (+61) 413 163 020 [email protected]
1 £:A$ of 0.5146 at 25 February 2016 (Reserve Bank of Australia)
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