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WES, WESFARMERS LIMITED
nipper
post Posted: Yesterday, 05:02 PM
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Wesfarmers is taking advantage of record highs in the Coles share price and generally buoyant conditions in equity markets to sell off $1.1bn of its stake in Coles, representing one third of its total holding, marking the next step in its demerger and eventual sell down of its holding in the supermarket group.

After the market closed on Tuesday, and following the release of Coles’ first half results, Wesfarmers announced it had entered into an underwriting agreement with two lead managers to sell 4.9 per cent of the issued capital of Coles. It is using the services of UBS and Macquarie Bank for the sale.

Wesfarmers, whose directors are currently in a board meeting before the release of its half-year results on Wednesday, is looking for prices between $16.08 and $16.45 as it aims to sell 65.4m shares in Coles to investors.

Following the sale process, Wesfarmers will retain a minority interest of 10.1 per cent in Coles and its right to nominate a director on the Coles board, maintaining the ongoing relationship between the two companies since the demerger of Coles from Wesfarmers in November 2018.

The sell down comes as Wesfarmers managing director Rob Scott is continuing to reshape Wesfarmers, which has seen him in the past few years generate billions of dollars in revenue from the sale of its Bengalla coal mine, the sale of Kmary Tyre and Auto as well as the sale of Quadrant Energy.

Wesfarmers demerged Coles supermarkets in 2018 and the selldown has been widely expected in recent days.

Under the relationship deed agreed with Coles at the time of the demerger, Wesfarmers has the right to nominate a director to the Coles board while it retains an interest in Coles of at least 10 per cent.

It comes as Coles shares trade near all-time highs and have risen almost 50 per cent in the last year.

Mr Scott said the partial sale of the Coles shareholding would crystallise a strong return for shareholders while enabling continued strategic alignment and collaboration between the two companies in relation to mutually beneficial growth initiatives.

“We believe this level of divestment is in the best interests of our shareholders and consistent with our objectives at the time of the demerger, which included demonstrating continued confidence in Coles’ future as a stand-alone listed company,” Mr Scott said. “We have been pleased with the performance of Coles as an independently listed entity and believe it is an appropriate time to realise value for our shareholders while retaining a meaningful interest and ongoing connection with Coles, including representation on its board and through our flybuys joint venture.”

Bids are to close at 7pm on Tuesday.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Feb 14 2020, 03:52 PM
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.
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It’s one of the most well-known and high profile advertising slogans from one of Australia’s most loved retailers – but not for much longer.
Bunnings is quietly pulling the pin on its famous tagline.

“Lowest prices are just the beginning …” is, well, ending. At least for now

.
https://amp-news-com-au.cdn.ampproject.org/...9f51ca966088efa



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jan 24 2020, 08:48 AM
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Following review of the DFS, Wesfarmers and SQM have agreed to undertake additional work which will result in the deferral of the final investment decision on the Lithium project to the first quarter of calendar year 2021.

Key actions include:
• conducting further work to optimise project design to reduce capital and operating costs
• exploring opportunities to improve utility and infrastructure solutions for the project
• investigating initiatives to further leverage WesCEF’s existing capabilities including by providing shared services and reducing operating costs
• ongoing discussions with key customers to ensure product specifications are aligned with continued changes in battery chemistry




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Nov 21 2019, 04:45 PM
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In Reply To: blacksheep's post @ Oct 16 2019, 07:45 PM

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One year after the demerger of Coles from Wesfarmers, shareholders in both companies are $16 billion richer, vindicating the conglomerate's decision to spin out the food and liquor retailer into a separately listed company.

Wesfarmers shares have risen 32 per cent since the demerger to $42.45 and Coles shares have risen 25 per cent to $15.61 since it listed on the ASX on November 21 last year..




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Oct 16 2019, 07:45 PM
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WES SP broke through the $40.00 mark today - finished @ $40.65 - highest since the announcement of Coles demerger back in November 2018
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Oct 11 2019, 09:57 AM
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Hardware giant Bunnings has made a small bolt-on acquisition in South Australia as part of its strategy to attract more trade customers, entering into an agreement to acquire leading South Australian retailer, Adelaide Tools.

The price of the acquisition has not been disclosed.

Adelaide Tools is a 70-year-old family-owned and operated business serving trades and high-end DIY enthusiasts through five Adelaide stores located at Oaklands Mower Centre. It also has an online offering more than 8000 products.

Bunnings managing director Mike Schneider said Adelaide Tools was a quality business with a great team, premium brands and a reputation for great customer and after sales service.

“The acquisition, which is subject to regulatory approval, will allow us to improve the way we connect, serve and engage with trade customers and is aligned with our strategy to accelerate the growth of the trade business,” Mr Schneider said.

“The business will continue to operate as Adelaide Tools and will give Bunnings insight into the dynamics of the trade specialist market. “While our businesses are very different, we see strong alignment between the Adelaide Tools and Bunnings brands with both businesses having a strong focus on team, advice and service. We believe this acquisition will deliver even more choice and convenience for trade customers."




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Oct 4 2019, 02:59 PM
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In Reply To: nipper's post @ Oct 4 2019, 02:35 PM

I think Joe was a bit cynical re WES talking up "Tesla" in the KDR deal - every one in BM space uses Tesla in their marketing.

23 September 2019
Completion of Kidman Resources acquisition
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Wesfarmers (ASX:WES) today announced the implementation of the Scheme of Arrangement under which
Wesfarmers Lithium Pty Ltd, a wholly owned subsidiary of Wesfarmers Limited, has acquired all of the
issued ordinary shares in Kidman Resources (ASX:KDR).

With the completion of the transaction, Wesfarmers holds a 50 per cent interest in the Mt Holland lithium
project based in Western Australia in joint venture with Sociedad Quimica y Minera de Chile S.A. (SQM),
one of the world’s largest producers and marketers of lithium products.

Managing Director Rob Scott said Wesfarmers was pleased to welcome Kidman team members joining the
Wesfarmers Group today and looked forward to working with SQM and the management team at the
Mt Holland project joint venture company, Covalent Lithium.

“This acquisition and our planned future investment is an attractive opportunity to participate in the
development of a large-scale, long-life and high-grade lithium hydroxide project in Western Australia in
partnership with a global leader in the lithium industry,” Mr Scott said.

“It leverages and builds on the existing strengths and chemical processing capabilities within our
Chemicals, Energy and Fertilisers business, while supporting Western Australia’s ambition to become a
global hub for downstream lithium processing.”

The cash payment of $1.90 per share to be paid to Kidman shareholders today has been funded from
Wesfarmers’ existing banking facilities. Kidman will apply to be removed from the official list of the ASX
which is expected to be from the close of trading tomorrow 24 September 2019.




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Oct 4 2019, 02:35 PM
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In Reply To: blacksheep's post @ Oct 4 2019, 12:43 PM

Definitely in the WES Chemical, Energy and Fertiliser announcement, recently, they used quite a few slides to explain the Kwinana complex (with an unstated wish the new bits would slot in well)
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Wesfarmers was focused on planning for decisions around building a lithium concentrator at the Mt Holland mine near Southern Cross, and the hydroxide plant.

....and I presume there are a few lessons learnt from Tianqi's failed plant, next door?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: blacksheep  
 
blacksheep
post Posted: Oct 4 2019, 12:43 PM
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Joe Lowry's comments on the AFR article - Wesfarmers revs up for lithium plant after Tesla visit https://www.afr.com/companies/manufacturing...20191003-p52xee

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Joe Lowry@globallithium
15h15 hours ago
More
Welcome to the #lithium world @Wesfarmers-you will need to come up to speed quickly. Meeting $TSLA is something every newbie does. Working “with” $SQM is almost a contradiction in terms. Don’t get me wrong, SQM is one of the few Li stocks I hold. Good Luck




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 1 2019, 03:33 PM
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Wesfarmers underpays workers $15 million in second incident in a week
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Australia's largest retail conglomerate Wesfarmers has blamed another payroll error for underpaying workers $15 million just days after the company revealed a similar issue at its hardware retailer Bunnings.

In a statement on Tuesday, Wesfarmers said that it found the mistake when it was updating its payroll system, causing about 6000 current and former team members in its industrial and safety division to have been underpaid since 2010.

The issues affect staff at retailer Blackwoods, workwear manufacturer Workwear Group, industrial gas supplier Coregas and health and safety management company Greencap.

The $15 million figure largely relates to the underpayment of certain allowances and entitlements, and superannuation related to car allowances.


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Wesfarmers follows jewellery chain Michael Hill, apparel retailer Sunglass Hut, automotive and sports retailer Super Retail Group and celebrity chef George Calombaris in the ranks of companies that have underpaid workers millions in recent months.

read more - https://www.smh.com.au/business/companies/w...001-p52wmb.html
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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