Woolworths

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Woolworths completes buy-back worth $1.7bn

Woolworths has completed a successful buy-back worth $1.7 billion following the sale of its petrol business. Woolworths Group chairman Gordon Cairns said: “We are pleased with the outcome and the strong level of investor interest. Completion of the off-market buy-back fulfills the Board’s commitment to return the proceeds from the Woolworths Petrol sale to shareholders”. […]

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Woolworths fuel discount undertaking

The Australian Competition and Consumer Commission (ACCC) has reportedly accepted a variation to an undertaking provided by Woolworths in 2013, regarding its shopper-docket fuel discounts. Following an investigation in 2013, the ACCC investigated whether the companies discounts of up to 40 cents per litre, linked to the supermarket purchases were anti-competitive. The ACCC then accepted an undertaking from Woolworths to

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Woolworths sold in $1.7bn deal

Woolworths Group Limited has announced EG has been approved to acquire the Group’s 540 petrol and convenience sites. The Foreign Investment Review Board (FIRB) confirmed there was no objection by the Commonwealth, regarding the acquisition. Woolworths Group intends to return up to $1.7 billion to shareholders. Woolworths said further details will be announced following the

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Woolworths Metro squashes small businesses

The Woolworths’ new convenience-type-store in Kirribilli has competitor stores already feeling squeezed despite the new store only being open for a few days. News.com.au reported the owner of the fruit shop next door had cancelled his lease and another convenience store across the road has begun to consolidate his external florist to within the store.

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