Woolworths Group Ltd (AU:WOW) has released an update.
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Woolworths Group has announced the sale of a 5% stake in Endeavour Group for $468 million, reducing its shareholding to approximately 4.1%. The company plans to use the proceeds to return capital to shareholders, with further details to be provided in their F24 results in August. CEO Brad Banducci emphasizes that while the partnership with Endeavour Group remains strong, a significant equity investment is no longer necessary.
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