October 4, 2018 / 10:46 PM / 2 months ago

Australia's Wesfarmers requests trading halt pending spin-off

Oct 5 (Reuters) - Australian conglomerate Wesfarmers Ltd requested a trading halt on its shares on Friday, in relation to its plans to spin off a business.

Wesfarmers announced plans to spin off its supermarket chain Coles in March, a business that analysts estimate is worth about A$16 billion ($11 billion).

The demerger is expected to complete in November. ($1 = 1.4128 Australian dollars) (Reporting by Aditya Soni in Bengaluru, Editing by Rosalba O’Brien)

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