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Woolies wins Masters dispute with Lowe's

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April 21, 2017

Woolworths is able to sell its Masters property assets without the consent of its former partner.

Woolworths can press ahead with the sale of Masters' property assets without the consent of its former joint venture partner.

Woolies says an award in the confidential arbitration between the supermarket chain and Lowe's means the US hardware giant must sell its 33 per cent stake in the failed Masters stores.

Home Consortium, which includes companies behind retailers Spotlight and Chemist Warehouse, reached agreement with Woolworths in August to buy Masters' 61 hardware stores and 21 development sites for $835 million.

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