Kingfisher planning sale of Superdrug and Woolworths

UK retail group Kingfisher is considering selling its Woolworth and Superdrug chains, raising doubts over its demerger plans.

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.



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