I can see around 19.5 million Coles shares (of a total class...

I can see around 19.5 million Coles shares (of a total class issue of 1,194 million) in special trades this evening at $16.47. That is only 1.6% of total class issue

Time SSN Price Quantity
18:48 265,055 1647 67,081 SP XT
18:46 265,054 1647 1,876,055 SP XT
17:35 264,144 1647 17,800,000 SP XT

However the article below says that Solomon Lew has sold his 10% shareholding to a Macquarie/Permira/Pacific Equities syndicate.

http://ftalphaville.ft.com/blog/2007/04/02/3587/major-coles-shareholder-sells-stake-to-buyout-consortium/

"Australian retail magnate and Coles shareholder Solomon Lew has sold his holding in the Australian retailer to a group of buyout firms that includes Pacific Equity Partners, Permira, Macquarie and Wesfarmers, reports Dow Jones. Previous reports speculated Lew might have been considering a bid of his own.
Dow Jones, citing an unnamed investment banker, said the consortium had snapped up 10 per cent in the company, including Lew’s holding, and was in the market for about 15 per cent. Two big trades in Coles were processed following the close of trading.

Coles previously turned down an overture from US private equity firm KKR, currently involved in a raft of high profile deals from First Data in the US to Sainsbury’s and Alliance Boots in the UK, but has seen the buyout firm bounce back just four months later to take part in the latest auction process for the retailer.

But KKR’s renewed pursuit of Coles Group hit a snag last month, when the Australian retailer objected to the size of KKR’s five-strong consortium. Coles is insisting on a limit of four members per buyout team to increase competition in the sale process. KKR again teamed up with the four other private equity firms — Carlyle Group, CVC, Texas Pacific Group and arch-rival Blackstone — who had a joint $14bn offer rejected by Coles last year.

Rick Allert, Coles’ chairman, has insisted the group would not consider any offer below A$15.25 per share, it is unclear whether KKR or others would offer more than last year, given its profit warning and the fact that Coles has failed to regain market share from rival Woolworths, Australia’s leading retailer."

Ajax