SYDNEY, Australia (Reuters) — Australian regulators said South Africa's Woolworths should provide an independent valuation of Country Road Ltd due to concerns investor Solomon Lew may benefit unfairly from selling Woolworths his stake in the Australian apparel retailer.

The Australian Securities and Investments Commission (ASIC) raised its concern about Woolworths Holdings Ltd's A$213 million ($201.5 million) offer to buy the billionaire investor's 11.88 percent stake in Country Road in a Federal Court application on Wednesday.

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