Report Links Marubeni with £650 million Kwik-Fit Sale

22nd November 2010 | 0 Comments
Report Links Marubeni with £650 million Kwik-Fit Sale

Just over a month after the news that Kwik-Fit owners PAI had appointed Credit Suisse to analyse the options for the sale of the company, newspaper reports have linked Japanese trading house Marubeni with a possible purchase. Marubeni’s other UK interests include ownership of Yokohama HPT tyres and a network of 24 car showrooms through its Marubeni Automotive Ltd subsidiary. It is also said to own one of the largest dealers for Toyota and Mazda in Europe.

Despite the reports, a company spokesperson told Tyres & Accessories that Kwik-Fit is “not in advanced discussions with anyone, specifically not Marubeni.” Rather the reported sale of the company is said to be in the very early stages, with the timeframe to completion unclear at this time.

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Category: News, UK News

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