Home Retail Shareholders Approve Disposal of DIY Unit Homebase
25 Febbraio 2016 - 3:16PM
Dow Jones News
LONDON--Home Retail Group PLC (HOME.LN) said Thursday that
shareholders approved the resolution to sell its DIY chain Homebase
to Bunnings (U.K.&I) Holdings Ltd., a subsidiary of Wesfarmers
Ltd.
Home Retail which also owns Argos--the catalogue retailer--said
591.3 million votes, representing 99.33% of the votes cast favored
the disposal.
Last month, Home Retail said it is selling Homebase to
Australian diversified retailer Wesfarmers for 340 million pounds
($489.74 million), and plans to return GBP200 million to
shareholders.
Completion of the proposed transaction is expected to occur
during the first quarter of the 2016 calendar year.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
February 25, 2016 09:01 ET (14:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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