(Adds deal detail)
Australian supermarket company Woolworths Group (WOW.) is selling a $A636 million stake in Endeavour Group (EDV) in a block trade on Tuesday, based on a term sheet seen by Reuters.
Woolworths declined to comment on the sale. Endeavour did not immediately respond to a request for comment.
Endeavour is an alcohol retailer, hotels and poker machine operator that was spun out of Woolworths in 2021.
Following the sale of the 98.5 million shares, Woolworths will retain a 9.1% stake in Endeavour, the term sheet said.
The sale represents about 5.5% of Endeavour's shares on issue.
A minimum price of A$6.46 has been put in place for the trade, the term sheet showed, which is a 3.6% discount to Endeavour's closing price of A$6.70 on Tuesday.
Investors have been told to lodge bids in increments of two Australian cents up to $A6.56, based on the term sheet.
Final pricing for the stock is due to be fixed before Endeavour shares start trading on Wednesday.
News: WOW UPDATE 1-Woolworths selling $A636 million stake in Endeavour Group - term sheet
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Last
$31.51 |
Change
-0.320(1.01%) |
Mkt cap ! $38.49B | |||
| Open | High | Low | Value | Volume |
| $31.75 | $31.88 | $31.51 | $61.54M | 1.946M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 15434 | $31.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.58 | 118 | 1 |
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| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| WOW (ASX) Chart |