Wesfarmers Cuts Homebase Loose and Transfers Lease Obligations. FVE Unchanged at AUD 37.50
Wesfarmers will lock in its losses with the sale of Bunnings in the United Kingdom and Ireland, or BUKI, to Hilco Capital. The transaction will result in a loss of GBP 200 to 230 million when the deal closes at the end of fiscal 2018. This is some GBP 50 to 80 million more than the remaining book value of BUKI after the impairment in February 2018, due to a pension top up and some cash remaining with the Homebase business. The outcome is worse than our previous base-case scenario, but also elimi...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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