Goldman Sachs to manage part of Kingfisher capital return

B&Q owner Kingfisher has engaged Goldman Sachs International to manage part of the capital return programme announced back in January.

Goldman will buy up to £52m in Kingfisher shares for cancellation by 25 July.

On 25 January, Kingfisher announced a five-year transformation programme and said it was aiming to deliver a £500m sustainable annual profit uplift by the end of the process.

The company, which operates Castorama in France, also announced a capital return of £600m over the next three years.