British retail group Kingfisher has ended talks with potential buyers of its Woolworths and Superdrug businesses, deciding to float them as a separate unit instead.
The group originally announced plans to split the toys, sweets and music retailer along with the health and beauty chain last September to concentrate on its home -improvement and electrical goods businesses, but then began considering a sale instead.
"Achieving best value for Kingfisher shareholders has been a prime consideration throughout our approach to the separation," said group chief executive Mr Geoffrey Mulcahy in a statement.
He added: "These businesses are now in good shape to prosper as a stand alone UK-listed company with a dedicated management team focused on future success."