Wesfarmers Sells Unit for AU$142.6 Million to BWP Trust

MT Newswires Live
27 Jun

Wesfarmers (ASX:WES) said it will sell its BWP Management unit to BWP Trust (ASX: BWP) for AU$142.6 million, according to a Friday filing with the Australian bourse.

The consideration includes AU$100 million in cash and AU$42.6 million in BWP units issued at a 9.2% premium to the last closing price, the filing said.

Following the sale, Wesfarmers' stake in BWP will rise to 23.5% from 22.3%, the filing added.

The company and BWP have also agreed to an extension and variation of Bunnings' leases with BWP.

Shares of Wesfarmers rose nearly 1% in recent Friday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10