Woolworths completes $1.7bn buy-back

Woolworths Group has successfully completed the $1.7 billion off-market buy-back announced last month, following the sale of its petrol business.

Due to the strong demand for the buy-back, a 84.68 per cent scale back of offers was required, and structured to avoid disadvantaging shareholders with small holdings.

“We are pleased with the outcome and the strong level of investor interest. Completion of the off-market buy-back fulfils the Board’s commitment to return the proceeds from the Woolworths Petrol sale to shareholders,” Woolworths Group chairman Gordon Cairns said.

Cairns said that the Woolworths Group balance sheet will remain strong following the buy-back, and will allow “sufficient flexibility for future growth”.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

Is the US-China trade war having an impact on your business?
Vote

Twitter

#AlceonGroup announce first Victorian @Lego_Group store to open in @WestfieldAU Doncaster #retail https://t.co/qMfYJp5WFM

12 hours ago

Almost half of online marketplace @Kogan gross profit for FY19 came from its private label offering #retail #onlinehttps://t.co/lLwhKBnVp2

2 days ago

Talks of a merger between @OZretailers and @retailaustralia have come to a close, with the parties failing to align… https://t.co/hkqHyDsBkr

1 week ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered