World Business Briefing | Australia: Retailer Puts Itself Up for Sale
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Coles Myer, the countryâs second-largest retailer, put itself up for sale, four months after rejecting a buyout offer of 18.2 billion Australian dollars ($14.4 billion) led by the equity firm Kohlberg, Kravis Roberts & Company. The chief executive, John Fletcher, will oversee a review of the company after receiving a number of approaches, Coles said.
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Giant retailer Coles Myer has lifted its bid for pubs group Australian Leisure &amp; Hospitality (ALH) to Aust. $1.32 billion ($978 million) in an attempt to secure a knockout victory over arch-rival Woolworths.
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SYDNEY: Australia&#39;s biggest supermarket operator Woolworths Ltd said yesterday it sees its liquor sales this financial year rising to $A3.5 billion, including its recent acquisition in Queensland, from $A2.1 billion in fiscal 2004.
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Woolworths' entertainment wholesale business helps to drive group sales, but trade at its own stores dip.
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Woolworths Ltd., Australia&#39;s biggest grocer, may be drawn into a bidding war for Australian Leisure &amp; Hospitality Group, after US buyout firm Newbridge Capital made aA$1.
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UK media company NTL has entered into an agreement to sell its broadcast business to a consortium led by Australian firm Macquarie Communications Infrastructure Group (MCG) and other third party investors for a purchase price of â¬1.84bn.
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Australia's second-largest retailer, Coles Group Ltd. , agreed to a A$22 billion ($19 billion) bid, including debt, from conglomerate Wesfarmers Ltd. , in the country's biggest takeover.
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Australian company trumps hostile bid from Alcoa with $43B friendly offer.
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Business & money: Â· Store group challenges Tesco view on pricesÂ· Pledge to give a better deal to smaller suppliers
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SYDNEY: Australian supermarket giant Woolworths raised its bid for pubs chain ALH to A$1.2bn ($898m) on Monday, but rival Coles Myer played for time by winning a deadline extension.
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If the retailer can right its merchandise woes, this stock could be a home run.
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The worldâs most valuable shopping mall owner, Westfield Group , has agreed to join with Australian developer Multiplex Group and two other investors in a 585 million pound bid ($1.
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The retailer will sell CallVantage in many of its outlets and through its Web site.
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US consumer goods and food giant Sara Lee plans to either sell or spin-off businesses with annual sales worth $8.2bn (Â£4.4bn).
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The amusement park company may be looking to sell itself.
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Claire Wattsâs departure comes as the worldâs largest retailer continues to work to revive sales in the flagging division.
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Somerfield is embarking on a rapid expansion by buying small Safeway stores that are no longer wanted by WM Morrison. Having fended off an unwanted takeover bid last year, Somerfield raised Â£51m through a