Channel Islands law firm Carey Olsen advised Wolseley plc, a FTSE 100 company on the creation of a new group holding company which has gained international profile in recent days.
The new group holding company will be UK-listed, incorporated in Jersey and will have tax residence in Switzerland.
Wolseley plc is the world’s largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials. The company is listed on the London Stock Exchange and is in the FTSE 100 index of listed companies.
Alex Ohlsson, managing partner said: "One of the reasons Jersey is the leading offshore financial centre is because of the strength and robustness of its legal and regulatory framework and it is good news that a FTSE 100 company of this stature has the confidence to choose Jersey as the place to establish its holding company.
"As the leading legal adviser to FTSE and AIM listed clients in the Channel Islands, Carey Olsen was delighted to assist Wolseley in the creation of an international holding company."
A team of lawyers from Carey Olsen in Jersey, led by partner Mike Jeffrey, acted as Jersey legal advisors to the company. The Channel Islands law firm worked in conjunction with Freshfields Bruckhaus Deringer LLP who acted as UK legal advisers to the company.
Carey Olsen has advised on a number of recent high profile listed company transactions. These include advising Breedon Aggregates Limited (formerly Marwyn Materials Limited), which is a Jersey incorporated company trading on AIM, on the £50 million reverse acquisition of Breedon Holdings Limited. Carey Olsen also recently advised on the first Jersey company to list on the Hong Kong Stock Exchange when it provided advice for West China Cement on its global offering comprising of a Hong Kong public offering and an international placing.