Endeavour Group Ltd (AU:EDV) has released an update.
Woolworths Group has entered an agreement to offload 5% of its stake in Endeavour Group at a price of $5.22 per share, amounting to $468 million in proceeds. The sale will leave Woolworths with a 4.1% holding, which they plan to retain for at least 60 days, with an intent to return capital to shareholders. CEO Brad Banducci highlighted the sale as a strategic move as Endeavour approaches its third year of independent operation.
For further insights into AU:EDV stock, check out TipRanks’ Stock Analysis page.
