July 22, 2018 / 10:41 PM / 4 months ago

Australia's Wesfarmers eyes November date for Coles demerger

July 23 (Reuters) - Mining-to-home improvement conglomerate Wesfarmers Ltd said on Monday that it expected the demerger of its Coles division to be completed by November, with James Graham to be the chairman of the new entity.

Coles is expected to have a dividend payout ratio ranging from 80 per cent to 90 per cent, Wesfarmers said in a statement, adding that the new entity would have net debt of about A$2 billion ($1.48 billion).

Wesfarmers will retain 15 percent of Coles. ($1 = 1.3475 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below