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An announcement from Wesfarmers Limited ( (AU:WES) ) is now available.
Wesfarmers announced the internalization of BWP Trust’s management by selling its 100% interest in BWP Management Limited to BWP for $142.6 million. This transaction includes a lease reset for Bunnings, extending the tenure of 62 sites and allowing for capital investment to enhance and expand select locations. The internalization allows BWP to operate as an independently managed trust, while Wesfarmers’ stake in BWP will increase to 23.5%. This strategic move is expected to provide greater certainty and support long-term growth for Bunnings.
The most recent analyst rating on (AU:WES) stock is a Hold with a A$69.00 price target. To see the full list of analyst forecasts on Wesfarmers Limited stock, see the AU:WES Stock Forecast page.
More about Wesfarmers Limited
Wesfarmers Limited is a diversified conglomerate with interests in retail, chemicals, fertilizers, industrial and safety products. It operates Bunnings, a leading retailer of home improvement and outdoor living products in Australia and New Zealand.
Average Trading Volume: 1,447,840
Technical Sentiment Signal: Buy
Current Market Cap: A$95.47B
For detailed information about WES stock, go to TipRanks’ Stock Analysis page.