Several analysts have spent years calling for Wesfarmers to divest some of its assets and it appears the conglomerate may finally be coming to the party. Speculation is swirling that a multi-billion dollar deal is brewing regarding an offload of its insurance business. Given the recent developments in this division, however, the news comes as a bit of a surprise.
Elsewhere, IPO action continues to balloon, investors make some large bets regarding the WCB takeover and Transpacific Industries seeks a buyer for its New Zealand business.
Wesfarmers, SPC Ardmona