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April 12 (Reuters) - Australian retailer Wesfarmers Ltd (WES) said on Wednesday it has sold its remaining 2.8% stake in supermarket chain Coles Group (COL) .
The company did not disclose the price at which the stake was sold, but local media reports peg the deal value at A$688 million ($457.93 million), or A$18.50 per share.
Reuters could not independently verify the offer value, and Wesfarmers did not immediately respond to a request for clarification.
Wesfarmers, which spun off Coles in late 2018, has been gradually reducing its shareholding in the supermarket chain.
Both the companies will continue their customer loyalty program Flybuys, retaining a 50% interest each in the joint venture.
($1 = 1.5024 Australian dollars)
News: WES UPDATE 1-Australia's Wesfarmers sells remaining stake in Coles Group
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