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Industry: Email Alert RSS FeedFord to sell Kwik-Fit - Supply & Demand: Europe - Brief Article
Automotive Industries, Oct, 2002
Ford Motor Co. has agreed to sell its Kwik-Fit vehicle repair chain to London-based CVC Capital Partners, a private equity group, for less than a third of what Ford paid for the business three years ago. Details of the sale state that CVC will purchase Kwik-Fit for $500 million in cash and a note to be paid as CVC obtains outside financing.
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Ford will retain a 19 percent equity stake in Kwik-Fit. Ford paid $1.6 billion for Kwik-Fit in 1999.
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