Woolworths shareholders have overwhelmingly voted in favour of demerging the Endeavour Group
Following shareholder approval earlier this week the Federal Court has approved changes to Woolworths.
Woolworths now waiting for Federal Court approval for its plan to restructure and create Endeavour Group.
Shareholders will vote on the plans for Woolworths’ drinks business, its share of ALH and the creation of a new entity within the group called Endeavour Group.
Woolworths has reported strong sales growth for the first quarter including growth for BWS and Dan Murphy’s.
Woolworths has revealed its intention to combine Endeavour Drinks Group and ALH Group into a single entity and demerge the new business.