LONDON: Ferguson Plc confirmed the completion of the disposal of Wolseley UK, its plumbing and heating distribution business, to Clayton, Dubilier and Rice.

The Company previously announced its intention to return substantially all of the net proceeds of the disposal to shareholders by way of a special dividend.

Ferguson expects to provide further details regarding the arrangements for payment of this special dividend with the Half Year results on March 16, 2021.

Ferguson plc is a leading value added distributor of plumbing and heating products to professional contractors operating in North America.

Ongoing revenue for the year ended July 31, 2020 was $19.9 billion and ongoing underlying trading profit was $1.6 billion. Ferguson plc is listed on the London Stock Exchange and is in the FTSE 100 index of listed companies. www.fergusonplc.com