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Masters stores for sale as Woolies-Lowe's battle nears end

People & Companies / Latest News

Australia

Jul 23 2017

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Simon Johanson, The Sydney Morning Herald

Big-box retailing is poised for its biggest shake-up in years with the imminent settlement of Woolworths' battle with former joint-venture partner Lowe's and the finalisation of an $830 million deal to offload its Masters stores.

US-based Lowe's is understood to have handed over its share of joint-venture company Hydrox Holdings – which owned the Masters chain – to Woolworths, paving the way for the retail giant to finalise the sale of former stores to Home Consortium.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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