Ferguson PLC on Monday said it has completed the disposal of Wolseley UK, its plumbing and heating distribution business. The company announced the £308 million (US$417.5 million) sale of the business to the private equity firm Clayton, Dubilier and Rice in early January.
As the company announced at the time, it intends “to return substantially all of the net proceeds of the disposal to shareholders by way of a special dividend.” Ferguson said it will provide further details when it announces its half-year results in March.
In the year ended July 31, 2020, Wolseley UK generated revenue of $1.9 billion and underlying trading profit of $8 million on a pre-IFRS 16 basis.
Click here to read more about the deal when MDM first reported it.
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