Kingfishing

4 May 2005

Even after its share price decline, the £6.7bn DIY retailer would be a huge morsel for private equity. And, while the numbers make more sense for trade buyers, the UK consumer slowdown might give them pause for thought.

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Kingfisher, the DIY group, has been at the centre of takeover speculation following a profit warning last week. Permira, the private equity house, is looking at the deal and might team up with rival Apax, according to a report in the Sunday Express. KKR, another private equity house, and Home Depot, the world's largest home improvements retailer, were also taking a look at Kingfisher, the report said, citing industry insiders.

Kingfisher recently said that its likeforlike sales would decline by around 6% in the quarter ending on April 30. It said that its focus on margins and costs wasn't going to be enough to offset the sales weakness, so firstquarter retail profits were likely to be down by 15%.

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