The BBC reports that Home Retail Group's sale of the Homebase retail chain to Australian retail conglomerate Wesfarmers will go ahead for £340m.
Wesfarmers has said it will spend a further £242m to build the Homebase business, under its own DIY brand, Bunnings. The deal is subject to shareholder approval.
Earlier this month, Home Retail Group confirmed that it received an approach from J Sainsbury plc for the potential acquisition of the group.
