UPDATE 1-CVC to sell Kwik-Fit tyre shops for 800 mln stg


(Adds detail, background) LONDON, June 24 (Reuters) - Private equity group CVC said on Friday it intended to sell its British tyre and exhaust business Kwik-Fit to a division of European private equity firm PAI for 800 million pounds ($1.5 billion). Kwik-Fit is Europe's biggest independent auto parts, repair and replacement specialist with over 1,900 outlets, including Speedy in France and Pit Stop in Germany. It has 11,000 employees and reported 2003 turnover of $1.4 billion. "PAI ...

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