The final chapter in the David Jones saga has been written, with Solomon Lew signing the dotted line.
Retail powerbroker Solomon Lew has accepted a $210 million offer for his stake in Country Road.
South African-based Woolworths confirmed its $17 per share offer for Lew’s 11.9 per cent stake in Country Road had been accepted.
The deal was closed after all conditions on the offer were removed.
The Country Road offer was linked to Woolworths’ $2.2 billion takeover bid for David Jones.
Lew purchased a major stake in David Jones this year, prompting speculation he was attempting to block the takeover to achieve a premium on his stake in Country Road.
Lew’s Country Road shares had a market value of $172 million prior to Woolworths' offer.