Original article by Patrick Hatch, Sue Mitchell
The Australian Financial Review – Page: 18 : 20-Jan-16

Australian-listed Woolworths and US-based Lowe’s have invested some $A3.48bn in the Masters hardware joint venture since 2009. The 33.3 per cent stake of Lowe’s has a book value of nearly $A900m, and the company has advised that its accounts for the December 2015 quarter will include a write-down of its investment. Meanwhile, Colleen Penhall of Lowe’s says the joint venture partners were too aggressive in their initial approach to opening Masters stores.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, LOWE’S COMPANIES INCORPORATED, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, HYDROX HOLDINGS PTY LTD