Kingfisher has confirmed plans to float its Woolworths chain as a separately-listed company later this month.
Shares in the toys, sweets and entertainment retailer are set to begin trading on the London Stock Exchange on August 28th.
The business will be headed by former Railtrack boss Mr Gerald Corbett, who joined Woolworths as executive chairman in March to oversee the demerger.
Kingfisher announced last August that it hoped to hive off its general merchandise arm to focus on expanding its DIY and electrical operations internationally.
Last month, it sold Superdrug to Dutch pharmacy chain Kruidvat for £310 million, but said it still intended to float Woolworths.
Woolworths will be floated alongside Kingfisher's music chain MVC, e-commerce music site Streets Online and CD, DVD and video distributor Entertainment UK in a new Woolworths Group.
Under Kingfisher's plans, each of its existing shareholders will be given one share in the demerged group for every one ordinary share they already own.
Kingfisher chief executive Sir Geoffrey Mulcahy says the demerger process has raised £1.1 billion for the group.
In addition to the cash received for Superdrug, Woolworths is taking on around £200 million of Kingfisher's debt.
Kingfisher also plans to sell £600 million worth of stores occupied by Woolworths in a property deal. Sir Geoffrey says: "Kingfisher is well positioned to pursue its international growth agenda."
PA