for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

CORRECTED-Grafton to sell its traditional merchanting business in Britain for $718 mln

(Corrects paragraph 1 to say Huws Gray is “backed by funds managed by Blackstone”, and not “Blackstone-managed”)

July 1 (Reuters) - Building materials distributor Grafton Group said on Thursday it will sell its traditional merchanting business in Britain to Huws Gray, a firm backed by funds managed by Blackstone, for an enterprise value of 520 million pounds ($718.17 million).

$1 = 0.7241 pounds Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shounak Dasgupta

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up