Go-ahead for Wolseley

The British retail group Wolseley has been given the go-ahead to take over Pinault Bois & Matériaux, the French building materials chain. The European Commission has now agreed to the plan on the grounds that Wolseley will still have a great number of competitors even after the takeover. The British group is already established on the market in France with 400 sales outlets, mainly under the name of Brossette, a specialist chain for heating and plumbing products. Pinault Bois & Matériaux, formerly a subsidiary of the Pinault-Printemps-Redoute group of companies, has 269 builders’ merchants outlets.