Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 13-Oct-15

Australian-listed Woolworths and joint venture partner Lowe’s have invested $A3.32bn in Masters Home Improvement to date. They invested an additional $A105m in the hardware venture on 30 September 2015. US-based Lowe’s has now invested $A1.11bn in Masters over the last six years. A put option to sell its 33 per cent stake in the venture to Woolworths can be exercised on 20 October. Woolworths and Lowe’s are progressively introducing a new store format for Masters in a bid to boost sales.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, LOWE’S COMPANIES INCORPORATED, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, HOME TIMBER AND HARDWARE, HYDROX HOLDINGS PTY LTD, BIG W DISCOUNT STORES, CITIGROUP PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION