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Wolseley sells three British divisions
LONDON : Plumbers' and builders' merchant Wolseley has put three of its British businesses on the market in a sale expec
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LONDON: Plumbers' and builders' merchant Wolseley has put three of its British businesses on the market in a sale expected to rake in about 300 million pounds ($495.3 million), the Sunday Times reported.
Builders' merchant Build Center and smaller subsidiaries Electric Center and Encon were put on the market this month and advisers at Bank of America Merrill Lynch have been appointed to oversee the sale, the paper said.
Travis Perkins Ireland's Grafton and Saint-Gobain have all registered an interest, it added.
Wolseley, which also operates in North America and elsewhere, has been divesting assets as part of a restructure announced in 2009.Its French plumbing business, Brossette, is also up for sale.
Copyright Reuters, 2011
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