Local media reports https://www.afr.com/street-talk/wesfarmers-dumps-500m-coles-stake-barrenjoey-nabs-trade-20220405-p5ab0t price the deal at A$17.75 per share, a 1.8% discount to its last close, valuing the transaction at A$500 million ($381.55 million).

Reuters could not independently verify the offer value, and Wesfarmers did not immediately respond to a clarification request.

Wesfarmers, which had spun off Coles in late 2018 https://www.wesfarmers.com.au/our-businesses/coles/coles-demerger, still retains its position as one of the top shareholders in Australia's no. 2 supermarket chain with a 2.8% stake https://www.wesfarmers.com.au/util/news-media/article/2022/04/05/wesfarmers-sells-2.1-per-cent-of-coles.

($1 = 1.3104 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru; Editing by Krishna Chandra Eluri)