Builders' merchant sold for pounds 121m

BUILDING MATERIALS group RMC is to sell its heavyside builders' merchants division, Hall & Co, to Wolseley for pounds 121m. The sale, expected to be tied up in September, completes RMC's strategic disposal of its non-core activities. RMC, which has its headquarters in Egham, Surrey, this month has sold Thorpe Park leisure complex, two cement plants and several other assets in Germany.

The latest deal allows RMC to focus itself as a supplier of heavy building materials to the international construction industry.

The proceeds of the disposal will be used to reduce RMC's debts and help provide flexibility for the development of the group.

Hall & Co operates from 92 branches in the UK and reported a turnover of pounds 180m last year.