Marks and Spencer Group p.l.c. Today announces that it is no longer in discussions to sell Kings Super Markets, its North American supermarket business.
Roger Holmes, Chief Executive of Marks & Spencer commented:
"In the current US climate it has not been possible for interested parties to raise sufficient funds to purchase Kings at what we perceive to be a fair price.
"Although Kings is not central to our strategy, we believe that maximising shareholder value will be achieved by working with the senior management team to develop the business and drive financial performance."
For further information, please contact:
Lisa Attenborough/Bella Pagdin Corporate PR 020 7268 1919
