Woolworths considers sell off

 

WoolworthsWoolworths is investigating options to divest part of its property portfolio, including its holdings in the ALH Group of hotels and its liquor store chain.

“These options include single property sales, portfolio property sales and the creation of separate vehicles to own the assets,” Woolworths said.

“Any divestment would involve the relevant Woolworths group business retaining operational control of the properties through a leasehold interest in the relevant premises.”

Woolworths says while no decisions have been made, the move is in line with its strategy of maximising shareholder value.

It has disposed of about $2 billion worth of property assets since mid 2010.

Its comments came after Woolworths considered spinning off its portfolio of pubs to a separately listed $600 million real estate entity.

Woolworths’ ALH Group is made up of 323 hotels, while its 537 strong liquor store chain includes the BWS stores.

Woolworths shares were 10 cents lower at $37.79 at 1026 AEST.

AAP

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