(Reuters) -British car distributor Inchcape said on Monday it was reviewing strategic options for its UK retail business, including a sale, following approaches from interested parties.
The retail segment of the car dealer, which operates across 40 countries, contributes 10% to the company's total revenue, with functions only in the UK and Poland.
A Sky News report earlier said that Rothschild has been hired by the London-listed company to oversee talks for the UK retail arm, which could be valued at "several hundred million pounds".
"This review is at a very early stage and there can be no certainty that it will result in a transaction," the company added.
A spokesperson confirmed with Reuters that the UK retail business incorporates 70 sites and employees 3,700 people.
The retail business has partnerships with brands such as Audi, BMW, Volkswagen (ETR:VOWG_p) and Toyota.
The company previously disposed its Australian retail business in 2019.