UK retail group Kingfisher is considering selling its Woolworth and Superdrug chains, raising doubts over its demerger plans.
The group revealed it would split Superdrug and Woolworth - its general merchandise arm - from its electrical and DIY division four months ago. The division is expected to account for up to £1.5bn of its total £6.8bn market capitalisation after demerger.
Superdrug and Woolworths could be sold for up to £350m and £850m respectively according to analysts. Venture capitalists are said to have been approached as potential buyers, as well as US giant Wal-Mart.
Selling the group would enable Kingfisher to expand Kingfisher's electrical and DIY operations in Europe.
Advertising for Woolworths and Superdrug is handled by Bates UK.