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Woolworths wins dispute with Lowe's

Woolworths can press ahead with the sale of Masters' property assets after winning a stoush with former US joint venture partner Lowe's.

The Australian supermarket giant says an award in the confidential arbitration with Lowe's means the US hardware giant must sell its 33 per cent stake in the failed Masters stores.

This will allow Woolworths to complete the sale of Masters' 61 big box hardware stores and 21 development sites for $835 million to a consortium that wants to turn them into retail centres.

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
284thBHP Billiton47%-1%
447thRio Tinto12%-1%
536thNational Australia Bank-0%12%
567thCommonwealth Bank-7%14%
627thWoolworths-19%-1%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

1st↑Woolworths$61,149.4m
2nd-Rio Tinto$49,225.3m
3rd↓BHP Billiton$42,224.6m
4th-National Australia Bank$27,213.0m
5th-Commonwealth Bank$27,005.0m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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