CANBERA (dpa-AFX) - Australian supermarket chain Woolworths Group Ltd. (WOW.AX) said it agreed to sell 5.0% of the issued capital of Endeavour Group via a block trade at a price of A$5.22 per share, generating proceeds of A$468 million.
This transaction reduces Woolworths Group's ownership in Endeavour Group to about 4.1%.
Woolworths Group has committed to retain its remaining shares in Endeavour Group for a period of at least 60 calendar days, subject to customary exceptions.
Woolworths Group intends to use the proceeds to return capital to shareholders.
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