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Carey Olsen advises Wolseley on Jersey incorporation

Channel Islands law firm Carey Olsen has advised Wolseley, a FTSE 100 company, on the creation of a new group holding company.

The new group holding company will be UK-listed, incorporated in Jersey and will have tax residence in Switzerland.

Wolseley is the world’s largest trade distributor of plumbing and heating products to professional contractors and a 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 of Carey Olsen, says: "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."

A team of lawyers from Carey Olsen in Jersey, led by partner Mike Jeffrey, acted as Jersey legal advisers to the company. The Channel Islands law firm worked in conjunction with Freshfields Bruckhaus Deringer which acted as UK legal advisers to the company.

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