Fleet News

Ford agrees sale of Kwik-Fit

FORD has agreed the sale of Kwik-Fit to venture capital firm CVC Capital Partners for £330 million, it was announced today, bringing to end weeks of speculation.

The car maker bought Kwik-Fit in 1999 for an estimated £1 billion, but last year said it was putting the company up for sale as part of a global cost-cutting strategy. Ford will maintain a 19% equity interest in the company.

  • How will the sale affect fleets? See Fleet NewsNet on Thursday.
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