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Woolworths Provides Update on Home Improvement Exit - Arbitration

21 Apr 2017  |  09:48:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Update on Home Improvement Exit - Arbitration

Woolworths announced that it notes that an award has been made in the confidential arbitration between the Company and Lowe's in relation to their home improvement JV. As a result, Lowe's is required to sell its shares in the JV Company, Hydrox Holdings, for a value determined by a third-party independent expert as at 18 January 2016, within the range of the valid independent expert's interim valuations previously obtained by each of the Company and Lowe's.

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