Woolworths Limited (Woolworths) has agreed to sell its shareholding of 30,548,887 ordinary shares in The Warehouse Group Limited (WHS), which is held by Woolworths’ wholly-owned NZ subsidiary General Distributors Limited, to James Pascoe Limited at NZ$2.85 per share.
The Directors of Woolworths have determined that the investment in WHS is no longer required as part of its New Zealand strategy.