Wesfarmers Continues Foray into New Technology Acquisitions; FVE Increases to AUD 30
Wide-moat-rated Wesfarmers continues efforts to diversify its portfolio away from retailing with its latest proposed deal. The conglomerate has now attempted two acquisitions of resource companies since Rob Scott took the helm. Unintended or otherwise, both acquisitions would expose Wesfarmers to the high-growth electric vehicle, or EV, market, a move which certainly has strategic merit. We forecast EVs to grow to 15% global penetration of new car sales in 2028 from 1% in 2017. Following the off...
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