Ferguson Selling Wolseley UK to Clayton Dubilier & Rice for GBP308 Million
04 January 2021 - 7:07PM
Dow Jones News
By Ian Walker
Ferguson PLC said Monday that it is selling its U.K. arm,
Wolseley UK, to Clayton Dubilier & Rice LLC for 308 million
pounds ($421.1 million).
The plumbing-and-heating products distributor said it expects to
complete the sale by the end of this month, and then return the
money raised to shareholders via a special dividend.
"The transaction further simplifies the group and allows us to
focus entirely on investing in and developing our business across
North America where we have the greatest opportunities for
profitable growth," Chief Executive Kevin Murphy said.
The company had previously said that it plans a full U.S.
primary listing in the first half of this year, after shareholder
approval in July.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
January 04, 2021 02:52 ET (07:52 GMT)
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