Anchorage Capital Partners, an Australian private equity fund, agreed to acquire David Jones, an Australian upmarket department store, from Woolworths, an Australian trans-Tasman retailer, for $67m. "This is a major milestone in the repositioning of WHL for growth, while simultaneously improving return on capital for our shareholders. The strategic rationale at the time of the acquisition did not materialise to the extent originally envisaged. While David Jones has successfully executed on its turnaround, notwithstanding the Covid-19 disruptions, now is the right time for the business to operate under new ownership, while WHL refocuses on its core South African and Australian Country Road Group businesses," Roy Bagattini, Woolworths CFO.