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Australia's Wesfarmers eyes UK market with Homebase acquisition

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Wesfarmers Ltd will buy Homebase in the UK for £340 million to secure an overseas foothold for its home improvements business.

Sydney

WESFARMERS Ltd will buy Homebase in the UK for £340 million (S$700 million) to secure an overseas foothold for its home improvements business on the same day that its primary Australian competitor revealed plans to exit hardware retailing.

The acquisition from Home Retail

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