UPDATE 1-Kwik-Fit ditches IPO route, puts itself up for sale


(adds mid-May bid deadline) LONDON, April 27 (Reuters) - British car tyre and exhaust business Kwik-Fit has ditched plans for an initial public offering and put itself on the auction block in a sale that could raise as much as 800 million pounds ($1.52 billion). A spokesman for British buyout firm CVC Capital Partners, which owns Kwik-Fit, said on Wednesday the company has sent information to a string of prospective buyers. He declined to name them, but industry sources expect all the ...

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