1st Feb 2021 08:54
(Alliance News) - Ferguson PLC on Monday said it has completed the GBP308 million sale of heating & plumbing distribution business Wolseley UK to US private equity firm Clayton, Dubilier & Rice LLC.
The FTSE 100 plumbing and heating products distributor announced the sale in early January, at the time stating the disposal means it will be able to "focus entirely" on its North American business.
In the financial year ended July 31, Wolseley UK generated revenue of USD1.88 billion.
At the time, Ferguson also said it intends to return substantially all of the net proceeds of the disposal to shareholders by way of a special dividend
On Monday, the company stated it will provide further details regarding the arrangements for payment of the special dividend on March 16, along with the publication of results for its half year ended January 31.
Shares in Ferguson were trading 1.8% higher at 8,656.00 pence each on Monday morning in London.
By Ife Taiwo; [email protected]
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