Deals
Woolworths Said to Near Sale of Department Store David Jones
- David Jones could be sold for about A$130 million in a deal
- An announcement could come as soon as next week, people say
A David Jones department store in Melbourne.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Woolworths Holdings Ltd. is nearing a deal to sell Australia’s oldest department store chain David Jones to Anchorage Capital Partners for about A$130 million ($89 million), according to people familiar with the matter.
The parties are ironing out final details of the transaction, which could be announced as soon as next week, said the people, who asked not to be named as they aren’t authorized to speak publicly. As part of the deal, Johannesburg-listed Woolworths plans to retain ownership of its flagship Melbourne city real estate, which it will lease to David Jones, the people said.