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From truck driver to high-flying fraudster : The incredible tale of Bill Papas money maze
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From truck driver to high-flying fraudster : The incredible tale of Bill Papas money maze
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Woolworths reveals updated details of demerger plans
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Woolworths to return up to $2b if drinks split approved
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Woolworths plans to hand back as much as $2 billion if shareholders approve the $12 billion demerger of its drinks and hotels business and could return even more capital if the newly independent Endeavour Group is embraced by investors.
Woolworths chief executive Brad Banducci hopes the long-awaited demerger, which was proposed in July 2019 and postponed when venues had to close because of the pandemic, will be as successful as Wesfarmers’ demerger of Coles.
Endeavour CEO Steve Donohue and Woolworths’ CEO Brad Banducci.
Dallas Kilponen/Woolworths
The Coles demerger created more than $16 billion in value for shareholders and enabled Wesfarmers to subsequently sell two-thirds of its stake for more than $2 billion in less than 18 months.