Manufacturing Industry
Ford selling Kwik-Fit to CVC. (Auto focus).(Ford Motor Co., CVC Capital Partners)(Brief Article)
European Rubber Journal, September, 2002
[] Dearborn, Michigan -- Ford Motor Co. is to sell Kwik-Fit, its European car maintenance and repair business, to CVC Capital Partners for 330 million [pounds sterling] ($500 million), Ford announced 12 Aug.
Private equity group CVC will form a new company from Kwik-Fit, in which Ford will have a 19-percent stake. The US car maker has posted third-quarter charges of about $500 million from the sale, which is due to be completed by the year end, subject to approvals.
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