The Board of Trian Investors 1 Limited (LSE:TI1) announced the spin off of an unknown stake in Ferguson plc (NYSE:FERG) on January 19, 2023. The Share Distribution will be undertaken at a ratio of 0.0151215566 FERG ordinary shares for each Ordinary Share of Trian Investors 1 Limited. The Record date for the transaction is January 27, 2023.