Wolseley selling UK divisions rumour

Published:  31 May, 2011

Reports suggest that Wolseley has put three of its UK divisions, including Build Center, up for sale.

The other two divisions are Electric Center and Encon.

Travis Perkins has been touted as a likely suitor for the business but said it was unlikely anything would be agreed in the near future, according to the Financial Times.

Wolseley is also said to be close to announcing a buyer for its French plumbing and heating business, Brossette. However, bathroom chain Bathstore is now likely to remain within the group despite reports earlier in the year that a deal had been struck with private equity group Electra.

Wolseley gives an update on its third quarter performance next week after a first half that saw it post a profit after two years of annual losses and also return to the dividend list. Analysts forecast that Wolseley, which moved its tax base to Switzerland last year, will make profits of £605 million on revenue of £13.6 billion.

Wolseley declined to comment on the reports.

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