Coles demerger a go after court approval

Coles is on course to stand alone on the ASX this week after the WA Supreme Court approved Wesfarmers' spin-off of the supermarket giant.

Coles is on course to stand alone on the ASX this week after Wesfarmers secured court approval for the spin-off of the supermarket giant.

The Supreme Court of Western Australia approved the scheme of arrangement for Coles' demerger from the Perth-based conglomerate, clearing the way for Coles shares to trade on a deferred settlement basis on Wednesday.

The demerger was approved by Wesfarmers shareholders last week.