Woolworths sells Dick Smith Electronics
Does this mean that Australians won't be able to buy Kindles through Dick Smith stores anymore?
Woolworths has offloaded its Dick Smith Electronics chain for $20 million to private equity group Anchorage Capital Partners.
Woolworths said it had signed a share sale agreement with Anchorage and the deal was expected to be finalised in late 2012.
Anchorage will take control of the 325 Dick Smith stores, which employ more than 4,500 staff.
"Initial cash proceeds will be $20 million to be received in FY13 with Woolworths potentially benefiting from any upside resulting from a future sale of Dick Smith by Anchorage," Woolworths said in a statement on Thursday.
Last edited by brewjono; 09-27-2012 at 02:11 PM.