Coles Spinoff Plan May Put Australian Supermarket Giant in Play

Wesfarmers Ltd.’s plan to spin off its Coles supermarkets, liquor and convenience stores could put the Australian retailing giant in play.

The business, which generated A$39.2 billion ($30.5 billion) in sales from 2,500 stores in fiscal 2017, could be attractive to a buyer looking to make a big splash Down Under, Citigroup Inc.’s Sydney-based credit specialist Anthony Ip said.