This article is from the Australian Property Journal archive
ASX-listed Woolworths Group has sold off its remaining shares in Endeavour Group, its spin-off that owns pubs and Dan Murphy’s and BWS outlets around the country, in a $383 million block trade.
The remaining shares were equal to about 4.1% of issued capital and were sold at a price of $5.23 per share, a 2.1% discount to prior close.
Woolworths sold off a $468 million block of shares in April at $5.36 per share.
Endeavour Group posted an increase in sales across FY24, but noted softer recent trade.
Endeavour operates more than 1,700 BWS and Dan Murphy’s stores, as well as 350 pubs and six wineries.
Woolworths Group will use the proceeds from the sale to fund the acquisition of the remaining 35% in PFD Food Services Pty Limited.
