Wolseley PLC Proposed merger of Tobler with Walter Meier (3684X)
21 February 2017 - 6:00PM
UK Regulatory
TIDMWOS
RNS Number : 3684X
Wolseley PLC
21 February 2017
21 February 2017
Wolseley plc
Proposed merger of Swiss plumbing and heating business with
Walter Meier
Wolseley has signed an agreement to merge Tobler, its Swiss
plumbing and heating business, with Walter Meier AG, a Swiss
heating and HVAC distributor.
If completed, the merger would be consistent with the strategic
objectives of both Wolseley and Walter Meier to create a high
quality, market-leading business across plumbing, heating and HVAC
distribution in Switzerland.
The proposed merger is subject to approval by Walter Meier's
shareholders, appropriate financing and Swiss competition clearance
and therefore there can be no certainty that the transaction will
be completed. If it is completed, Wolseley expects to receive cash
consideration of CHF117.8 million and a 39.2% minority holding in
the newly combined and enlarged business.
For further information please contact
Wolseley plc
Dave Keltner, Interim Chief +41 (0) 41723
Financial Officer Tel: 2230
Mark Fearon, Director of Corporate +44 (0) 7711
Communications and IR Mobile: 875070
Brunswick (Media Enquiries)
+44 (0)20 7404
Michael Harrison, David Litterick Tel: 5959
Notes to editors
Wolseley plc is the world's largest specialist trade distributor
of plumbing and heating products to professional contractors and a
leading supplier of building materials, operating in North America,
the UK and Continental Europe. Revenue for the year ended 31 July
2016 was GBP14,430 million and trading profit was GBP917 million.
Wolseley has about 39,000 employees and is listed on the London
Stock Exchange (LSE: WOS) and is in the FTSE 100 index of listed
companies. In the USA the Company also operates a Level 1 ADR
programme trading on OTCQX, the premier tier of the US
over-the-counter market (Ticker: WOSYY). For more information,
please visit www.wolseley.com or follow us on Twitter
https://twitter.com/wolseleyplc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
PNMDBLFLDLFFBBB
(END) Dow Jones Newswires
February 21, 2017 02:00 ET (07:00 GMT)
Ferguson (LSE:FERG)
Historical Stock Chart
From Apr 2024 to May 2024
Ferguson (LSE:FERG)
Historical Stock Chart
From May 2023 to May 2024