(Reuters) – Australian retail conglomerate Wesfarmers Ltd late on Tuesday said it sold 2.1% interest in supermarket chain Coles Group, but did not disclose the total worth of the divestment.
Local media reports price the deal at A$17.75 per share, a 1.8% discount to its last close, valuing the transaction at A$500 million ($381.55 million).
Reuters could not independently verify the offer value, and Wesfarmers did not immediately respond to a clarification request.
Wesfarmers, which had spun off Coles in late 2018, still retains its position as one of the top shareholders in Australia’s no. 2 supermarket chain with a 2.8% stake.
