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...Wesfarmers is engaged in the retailing operations including supermarkets, merchandise and department stores, fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; industrial and safety product distribution; and chemicals and fertilisers manufacture; and investments. Co.'s retail operations includes Coles, which operates Coles Supermarkets, Coles Express, Liquorland, Vintage Cellars, First Choice Liquor, and Spirit Hotels, among others; while its departmental operations include Kmart and Target retailers.
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