Aussie firm takes slice of country's liquor market
Australian food retailer Woolworths has won the control of Australian Leisure and Hospitality Group (ALH), following its winning bid of A$1.3 billion (£528.1 million).

It means the retailer now has a leading position in the country's A$11 billion (£4.47 billion) retail liquor market. ALH is Australia's third biggest liquor retailer, holding 5 per cent of the market.

Rival Coles Myer gave up the race after Woolworths declared it had gained more than 20 per cent of the company.

With the close of the deal, subject to stakeholder approval, Woolworths will gain control of 130 pubs, about 260 liquor outlets and nearly 6.9 million sq ft (641,010 sq m) of land for development.

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