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BUZZ-Australia's Wesfarmers falls on plan to wind down BPI No 1 property structure

Reuters
Mar 07, 2025
BUZZ-Australia's Wesfarmers falls on plan to wind down BPI No 1 property structure

** Shares of Australian conglomerate Wesfarmers WES.AX fall as much as 2.1% to A$71.5, its lowest level since January 20

** Stock down 2.7%, as of 0005 GMT, and is on track to record its third straight week of losses, if trend holds

** WES announces it will wind up BPI No 1 (BPI) property structure in September 2025

** BPI was established by Wesfarmers in 2013, as a special purpose vehicle to facilitate the sale and leaseback of 15 Bunnings warehouse properties

** Co sees to take a one-off pre-tax profit hit, associated with the transaction, of between A$80 million ($50.63 million) and A$130 million in FY25

** Stock has fallen 1.2% this year so far

($1 = 1.5800 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))

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