Wesfarmers to spin off Coles in $19.4b sale
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Conglomerate Wesfarmers has announced its plan to spin grocery giant Coles off into a separate ASX entity.
Conglomerate Wesfarmers has announced its plan to spin grocery giant Coles off into a separate ASX entity.
The last time Steven Cain - the head of the soon to be ASX-listed spin-off- worked at Coles, he upset so many people he was fired.
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Australian shares are higher today with Wesfarmers' demerger plan for Coles giving the market a shot in the arm.
Goldman Sachs and Gresham will oversee Wesfarmers' $19.5 billion spin-off of grocery giant Coles into a separate ASX entity.
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