LONDON--Home Retail Group PLC (HOME.LN) said Thursday that shareholders approved the resolution to sell its DIY chain Homebase to Bunnings (U.K.&I) Holdings Ltd., a subsidiary of Wesfarmers Ltd.

Home Retail which also owns Argos--the catalogue retailer--said 591.3 million votes, representing 99.33% of the votes cast favored the disposal.

Last month, Home Retail said it is selling Homebase to Australian diversified retailer Wesfarmers for 340 million pounds ($489.74 million), and plans to return GBP200 million to shareholders.

Completion of the proposed transaction is expected to occur during the first quarter of the 2016 calendar year.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

February 25, 2016 09:01 ET (14:01 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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