Wolseley nears Bathstore sale

Private equity group Electra has reportedly entered exclusive talks with builders’ merchant Wolseley about buying its Bathstore retail chain. Bathstore, which has more than 150 shops across the UK, is expected to sell for around £90m. Electra, which declined to comment, beat private equity group LDS and Change Capital Partners to secure exclusive talks, according to Sky News. Wolseley is being advised by Catalyst Corporate Finance.