Dry July: Woolworths to ditch pokies, pubs and booze
Woolworths’ decision to divest its $11 billion retail liquor and pubs businesses will be the largest and most transformative transaction undertaken by the group in its 94-year history.
The demerger of a combined hotel and liquor business will give birth to a giant new listed Australian company offering reliable earnings.
For Woolworths, it will end its ownership of some of the countries best known brands including Dan Murphy’s and BWS, and in doing so remove the ethical taint that comes with operating poker machines and, to a lesser extent, selling alcohol. Sydney Morning Herald – Read more…