Silvan sold for billions

A British company buys one of the country's largest do-it-yourself supply stores

The Danish DT group - formerly Dansk Trælast - which owns supply superstores Silvan and Stark has been bought by the British heating and plumbing giant Wolseley PLC.

In the deal brokered by CVC Capital Partners, Wolseley will be paying DKK 15 billion for the company.

The purchase also involves the assumption of 484 million euros in debt, the Reading, southeast England-based company said Monday in a statement. The agreement is conditional on approval from government authorities.

DT Group is the leading distributor of building materials for trade professionals and consumers in the Nordic region, with operations in Denmark, Finland, Sweden and Norway. Buying DT will add 256 new do-it-yourself outlets in Denmark, Finland, Sweden and Norway.

'DT Group enhances our position in building materials in Europe and provides a platform for future growth,' Wolseley chief executive officer Charles Banks said in the statement. 'We look forward to working with the DT Group management and employees as part of the Wolseley group and to driving the business forward together.'

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