PAI Partners looking to exit Kwit Fit

Kwik Fit, the European car parts retailer, is being put up for sale by its private equity owner PAI Partners for about $1 billion dollars, according to reports. PAI has already appointed Credit Suisse and Morgan Stanley to handle the deal. PAI bought Kwit Fit from buyout firm CVC in 2005 for 800 million pounds ($1.3 billion).

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