Key Points

  • Demerger of Coles to reposition the Group’s portfolio and set up both Wesfarmers and Coles for future success
  • Wesfarmers to retain 15 per cent of Coles and 50 per cent of flybuys
  • Eligible shareholders will receive one Coles share for every Wesfarmers share
  • Wesfarmers Board recommends shareholders vote in favour of the demerger of Coles
  • The Independent Expert, Grant Samuel & Associates, has concluded the demerger proposal is in the best interests of Wesfarmers shareholders
  • Shareholder vote scheduled for Thursday, 15 November 2018, with demerger to be completed in November 2018, subject to shareholder, court and regulatory approvals