Wesfarmers completes sale of Homebase

Company News

by Anna Napoli

Wesfarmers (ASX:WES) has announced the completion of the sale of its UK business Homebase.

The Australian conglomerate announced it was selling the flailing UK business last month.

The company sold the home improvement retailer to a company associated with Hillco Capital.

Wesfarmers expects to record a loss on disposal of 200 to 230 million pounds .

The loss will be recorded in the groups 2018 full year financial results.

Shares in Wesfarmers (ASX:WES) closed down 0.26 per cent to $46.36 on Friday

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.