Disposal of Minority Interest in Stock

RNS Number : 3365S

Wolseley PLC

18 November 2011

 



NEWS RELEASE

18 November 2011

Disposal of Minority Holding in Stock Building Supply

Wolseley plc is pleased to announce that it has completed the sale of its remaining shareholding in Stock Building Supply to The Gores Group for consideration of £15 million. The business was a minority interest for which no revenue or trading losses were recognised in the Group's financial statements for the year to 31 July 2011.  The asset was held in the balance sheet at nil value.

For further information please contact:

Wolseley plc

John Martin, Chief Financial Officer	Tel:       [phone]
Mark Fearon, Director of Corporate Communications and IR	Mobile: +44  (0) 7711 875070
Brunswick (Media Enquiries)
Mike Harrison, Nina Coad	Tel:       [phone]

Notes to Editors:

1.   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 in North America, the UK and Continental Europe.  Group revenue for the year ended 31 July 2011 was £13.6 billion and trading profit was £622 million.  Wolseley has around 44,000 employees operating in 23 countries and is listed on the London Stock Exchange (LSE: WOS) and is in the FTSE 100 index of listed companies.

 

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