Wolseley close to Bathstore disposal?

Speculation is rising that builders and plumbers merchant chain Wolseley is on the verge of siphoning off its Bathstore retail chain.

Sky News' Mark Kleinmann says the merchant chain is believed to be in final stage discussions with the private equity firm Electra Partners.

If the talks go well, a deal is likely to be weeks away with a price rumoured to be somewhere around the £80m-£90m.

Bathstore would be the second Wolseley UK non-core segment to be sold off since chief executive Ian Meakins took over. Brandon Hire was hived off to private equity buyers in August.

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