Australia's Woolworths to demerge drinks, hospitality business

Australia's Woolworths to demerge drinks, hospitality business

FILE PHOTO: Shoppers walk into a Woolworths supermarket in Sydney, Australia August 22, 2017. REUTERS/Jason Reed

Australia’s biggest supermarket chain Woolworths Group Ltd said on Wednesday it would combine and spin off its drinks and hospitality divisions to sharpen its focus on its core supermarket business amid intensifying competition.