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High Street

KKR sells off remaining Pets at Home stake

American private equity firm KKR has sold off its remaining 12.3% stake in Pets at Home.

This amounted to 62 million shares in the pet supplies retailer, which fell 2.65% in London trading. Shares were worth 174p each at the time, raising £108m.

Merrill Lynch International and Numis Securities acted as joint bookrunners on the placing and the retailer will not receive any of the proceeds of the sale.

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The proceeds will be payable in cash on usual settlement terms, and is expected to close later this month.

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KKR acquired Pets at Home in 2010, after it bought it from Bridgepoint for £955m and the retailer floated on the stock market in 2014.

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