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Wolseley Confirms Discussion to Divest ÖAG

Divestiture will allow Wolseley to focus on its core operations.

UK-based Wolseley plc, distributor of plumbing, heating and building materials, confirms it is in discussions with subsidiaries of Frauenthal Holding AG to dispose of ÖAG, Wolseley's Austrian plumbing and heating business.

ÖAGhad revenues of £239 million (US$403 million) in 2013.

Closing is subject to receiving the approval of the relevant Austrian competition authorities.

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