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FTSE 100 conglomerate DCC has fired the starting gun on a break-up, announcing plans to sell its healthcare operations and review “strategic options” for its technology division, sending its shares up 15 per cent on Tuesday.
The company said it was simplifying operations to focus on its energy business, calling the division its “largest growth opportunity”, buoyed by the transition to lower carbon power.
The Dublin-based group said the plan would “maximise shareholder value” and lead to faster growth in all three of its divisions.
It said it expected to complete a sale of the healthcare division, which makes diagnostic devices as well as nutritional supplements, in 2025. Options for its technology business, which makes audiovisual and other products, would be reviewed within two years, it added.
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Author: www.ft.com
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