Woolies gives up liquor and gambling

Original article by Sue Mitchell
The Australian Financial Review – Page: 1 & 18 : 4-Jul-19

Woolworths CEO Brad Banducci says the retail giant has been working on the proposed demerger of its liquor and hotels business for more than a year. Endeavour Group will be created via the merger of pubs and poker machines operator ALH Group and Endeavour Drinks, which owns the Dan Murphy’s and BSW liquor chains. Woolworths plans to divest Endeavour Group via a demerger, trade sale or IPO in 2020 and retain a minority stake. Woolworths has attracted criticism over its exposure to poker machines, but Banducci stresses that this was not a driver of the demerger proposal.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, ENDEAVOUR GROUP, ALH GROUP LIMITED, DAN MURPHY’S, BWS – BEER WINE SPIRITS, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, ABERDEEN ASSET MANAGEMENT LIMITED, LANGTON’S, CELLARMASTER WINES PTY LTD, PINNACLE DRINKS, THE MATHIESON GROUP PTY LTD, BIG W DISCOUNT STORES, THE QUANTIUM GROUP PTY LTD

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