Wesfarmers has sold the last of its remaining interest of 2.8% in Coles Group Limited (Coles).
Since the demerger of Coles from Wesfarmers in November 2018, Wesfarmers has gradually reduced its shareholding in the supermarket chain. Wesfarmers and Coles will continue their Flybuys joint venture, with both groups retaining a 50 per cent interest in Flybuys.
The value of the share sell-off was not disclosed, however media reports suggested a value of AU$688 million - or $18.50 per share.
The moves comes as the Wesfarmers centres on its Kmart, Target and Catch businesses, alongside its OneDigital division.