Woolworths takes $28.3m haircut on Warehouse as James Pascoe buys stake

Wed, 04 Mar 2015

By Suze Metherell March 4 (BusinessDesk) - Woolworths has taken a near $28.3 million haircut on its investment in Warehouse Group after James Pascoe, the retail group owned by David and Anne Norman, bought the Australian supermarket chain's stake in New Zealand's largest listed retailer. James Pascoe paid $87.1 million to acquire Woolworths 30.55 million Warehouse shares at $2.85 a piece in an off-market sale, substantial shareholder notices lodged with NZX yesterday show. That's some $96.4 million below the $183.4 million the Australian...

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