Cinven not interested in Wolseley, claims report

Private equity firm Cinven will not be bidding for building products firm Wolseley, according to reports today.

Suggestions were that Cinven was lining up a £10bn bid for Wolseley which would involve the company finding a partner to help with the bid - with Wolseley then being broken up with the private equity firm taking control of the firm's British and European operations.

However Reuters has reported that a source ‘familiar with the situation’ claimed that Cinven was considering a bid.

“The idea was proposed to Cinven by a bank, but Cinven is not interested,” said the news site’s source.