RETAILING

Kmart Sheds Aussie Holding: The company has unloaded its $924-million share in Australia’s biggest retailer, Coles Myer, ending months of speculation. The biggest buyback in Australian corporate history divides Kmart Corp.’s 21.45% stake in Melbourne-based Coles into two parcels to end a 26-year-old marriage and give Kmart room to focus on its core North American operations. Coles will buy back one parcel from Kmart representing a 10% stake; the remaining 11.45% parcel will be sold to a range of investors and institutions.