A report from the Sunday Times in England says that global building materials and plumbing distributor Wolseley plc is in talks with investors and private equity groups to raise possibly more than $500 million (converted from British pounds) in what the paper calls a rescue fundraising.
According to the article, a final decision on how much cash is required and whether they will move forward on this will be made in the next three weeks before the end of its financial half year. The distributor will report results next week.
Here is the article.
Report: Wolseley Seeks Cash Infusion
A report from the Sunday Times in England says that global building materials and plumbing distributor Wolseley plc is in talks with investors and private equity groups to raise possibly more than $500 million (converted from British pounds) in what the paper calls a rescue fundraising.
According to the article, a final decision on how much cash is required and whether they will move forward on this will be made in the next three weeks before the end of its financial half year. The distributor will report results next week.
Here is the article.
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About the Author
Lindsay Young
Lindsay Young is the president of 3 Aspens Media, a B2B content strategy and marketing content firm that works with distributors to translate their offline expertise – online. She has more than 20 years of experience leading and producing online and print content for publications and businesses. She leads a team of 12 writers, client success managers, designers, marketing specialists and strategists to produce content that helps companies translate their benefits to key decision-makers. She was previously the editor of Modern Distribution Management.
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