Travis Perkins (LSE:TPK), down 1% at 647p, has agreed to sell its loss-making Toolstation Benelux business for €1.
The bigger sum moves in the other direction, as Travis Perkins will put about £35 million into the business to give it a firmer financial footing when Fidelium Partners takes ownership.
For the UK builders’ merchant, the deal is a way out of an operation it expects to lose about £10 million this year.
Chief executive Gavin Slark said the sale would simplify the group and allow it to focus on supplying building materials in the UK.
The deal also changes how investors will see that £10 million loss in the 2026 results.
Travis Perkins will report Toolstation Benelux separately as a discontinued operation, so the loss will sit outside the adjusted operating profit figure for the businesses it is keeping.
Travis Perkins expects to complete the sale before the end of 2026, once it finishes consulting employee representatives in the Netherlands.
