Kwik-Fit 'worth up to £1bn'

Car parts and repair specialist Kwik-Fit could be valued at up to £1bn (€1.45bn) were it to be auctioned in the coming months, a report said today.

CVC Capital, which acquired the business from US motor giant Ford in 2002, is thought to be ready to appoint financial advisers after being told Kwik-Fit would command an enterprise value of between £750m (€1bn) and £1bn (€1.45bn).