Sept 21 (Reuters) - Coles Group Ltd (COL) :
- COLES TO SELL ITS FUEL & CONVENIENCE BUSINESS TO VIVA ENERGY
- TRANSACTION ALLOWS COLES TO FOCUS ON GROWING ITS OMNICHANNEL SUPERMARKET AND LIQUOR BUSINESSES
- WILL RECEIVE A$300 MILLION AND ASSIGN LEASES, WHICH CURRENTLY REPRESENT A LIABILITY OF A$816 MILLION ON COLES' BALANCE SHEET
- TRANSACTION WILL SEE VIVA ENERGY OWN AND OPERATE 710 COLES EXPRESS SITES CURRENTLY OPERATED BY COLES
- COMPLETION EXPECTED TO OCCUR IN H2 OF FY23 SUBJECT TO ACCC AND FIRB APPROVAL
- COLES EXPECTS TO RECORD A SMALL GAIN ON SALE OF BUSINESS
- EARNINGS IMPACT OF PRODUCT SUPPLY AND ONGOING ARRANGEMENTS IS NOT EXPECTED TO BE MATERIAL FROM A GROUP PERSPECTIVE
News: VEA Coles Group Says To Sell Its Fuel & Convenience Business To Viva Energy
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