Woolworths Group has agreed to sell its remaining shares in Endeavour Group, equivalent to approximately 4.1% of the issued capital, via a block trade at a price of $5.23 per share. The sale will generate proceeds of $383 million.
Woolworths Group intends to use the proceeds to fund the acquisition of the remaining 35% in PFD Food Services Pty Limited.
“Woolworths Group confirms that it does not possess any information that is not generally available that a reasonable person would expect to have a material effect on the price or value of Endeavour Group securities,” the retailer said.