Advertisement
Singapore markets close in 1 hour 38 minutes

  • Straits Times Index

    3,175.48
    -12.18 (-0.38%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,221.98
    -163.89 (-1.00%)
     

  • FTSE 100

    7,839.37
    -37.68 (-0.48%)
     

  • Bitcoin USD

    64,339.81
    +3,135.61 (+5.12%)
     

  • CMC Crypto 200

    1,336.36
    +23.74 (+1.81%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,405.90
    +7.90 (+0.33%)
     

  • Crude Oil

    83.70
    +0.97 (+1.17%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,548.86
    +4.10 (+0.27%)
     

  • Jakarta Composite Index

    7,102.22
    -64.59 (-0.90%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Home Retail confirms Homebase sale to Wesfarmers

Reuters

LONDON (Reuters) - Britain's Home Retail Group confirmed the sale of its Homebase chain to Wesfarmers Ltd on Monday, and said it would return 200 million pounds of the proceeds to shareholders.

The company, which retains its larger Argos business, said last week it was in advanced talks to sell the chain to the Australian company for 340 million pounds.

Wesfarmers said on Monday it would spend another A$500 million (242 million pounds) refurbishing the 265 stores.

Home Retail rejected a separate approach from Sainsbury's for the whole group in November. The supermarket chain, which was mainly interested in Argos, has until Feb. 2 to make a formal bid.

(Reporting by Paul Sandle; editing by Kate Holton)