Country Road to buy Witchery
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Country Road has agreed to buy fellow fashion retailer Witchery Australia for $172 million.
The acquisition will be partly funded by through a one-for-two pro-rata renounceable rights issue at $2.66 per share to raise $92 million.
Country Road's 88 per cent shareholder Woolworths has said it will participate in its pro-rata share of the entitlement.