Divestment of Traditional GB Merchanting BusinessSource: RNS
Update on Divestment of Traditional Merchanting Business in Great Britain
29 November 2021
Grafton Group plc ("Grafton") announced on 1 July 2021 that it had entered into an agreement to divest its Traditional Merchanting Business in Great Britain and that Huws Gray, the purchaser, would be notifying the transaction to the Competition and Markets Authority ("CMA").
Grafton notes the announcement today by the CMA that its Phase 1 review concluded that it is or may be the case that the merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom and is therefore considering whether to accept an undertaking in lieu of a Phase 2 reference.
The divestment is expected to close by 28 February 2022 and completion is not conditional on the outcome of the CMA process.
For further information please contact:
Grafton Group plc +353 1 216 0600
Gavin Slark Chief Executive Officer
David Arnold Chief Financial Officer
Murray +353 1 498 0300
MHP Communications +44 20 3128 8100
Andrew Jaques/James Midmer
Grafton Group plc is an international distributor of building materials to trade customers and has leading regional or national positions in the UK, Ireland, the Netherlands, and Finland. Grafton is also the market leader in the DIY retailing market in Ireland and the largest manufacturer of dry mortar in the UK where it also operates a market leading staircase manufacturing business.
For further information visit www.graftonplc.com