Board of directors of Travis Perkins plc (LSE:TPK) announced the spin-off of Wickes Building Supplies Limited on July 31, 2019. After demerger Wickes will operate as standalone business. As of July 31, 2019, board of directors Travis Perkins approved the transaction.

Transaction is expected to complete in First Half of 2020. As of December 10, 2019, transaction is expected to complete in the second quarter of 2020. As of March 21, 2020, the transaction is put on hold.

As of September 8, 2020, demerger of Travis Perkins plc remains paused until markets become more stable and predictable. As of March 2, 2021, the process has been revived and is expected to be completed in the second quarter of 2021. As of March 24, 2021, the record date for the transaction is set to April 27, 2021, along with the the general meeting of Travis Perkins plc shareholders.

As of March 24, 2021, Financial Conduct Authority (FCA) has approved the transaction. The transaction is expected to complete on April 27, 2021 with the admission and commencement of dealings in Wickes Building Supplies Limited shares on the London Stock Exchange scheduled for April 28, 2021. As announced on April 15, 2021, the transaction is expected to be closed on April 28, 2021.

Citigroup Global Markets Limited and Deutsche Bank AG, London Branch acted as financial advisor for Travis and Wickes.