LONDON, June 24 (Reuters) - British private equity group CVC said on Friday it intended to sell its Kwik-Fit tyre and auto-spares operation to a division of European private equity firm PAI partners for 800 million pounds ($1.46 billion).
"PAI intends to support the management team to further strengthen Kwik-Fit's leading positions in the fast-fit European market," PAI partner Hamish Mackenzie said in a statement.
PAI's Speedy 1 division is the buyer of Kwik-Fit.