Kwik-Fit to Sell Insurance Business for £200 million

Ian Fraser, CEO of tyre retail giant Kwik-Fit is preparing to sell its insurance wing for in excess of £200 million. According to a report published in the Sunday Times on 14 February, Kwik-Fit has hired bankers at Credit Suisse to carry out a review of Kwik-Fit Financial Services. The report points out that a sale of the operation would help Kwik-Fit cut its debts of around £822 million.

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