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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.

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

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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