March 30 (Reuters) - Wesfarmers Ltd WES.AX :
* WESFARMERS AGREES TO SELL 5.2 PER CENT OF COLES GROUP
* WESFARMERS WILL NO LONGER HAVE RIGHT TO NOMINATE A DIRECTOR TO COLES BOARD
* ALSO AGREED TO RETAIN REMAINING SHARES IN COLES FOR AT LEAST 60 DAYS FROM COMPLETION OF SALE, SUBJECT TO CUSTOMARY EXCEPTIONS
* CO, COLES WILL CONTINUE ITS FLYBUYS JV, WITH BOTH GROUPS RETAINING A 50 PERCENT INTEREST IN BUSINESS
* RELATIONSHIP DEED AGREED WITH COLES AT TIME OF DEMERGER WILL TERMINATE