High street chain Boots will sell off its car and bike parts business Halfords, it was announced today.
But a company spokesman said the most appropriate method could be a demerger to shareholders.
Under the proposed deal, Boots' shareholders would receive shares in Halfords, which would become an independent company listed on the London Stock Exchange.
Boots chief executive Steve Russell said: "Our focus is on growing our health and beauty business.
"Halfords is an excellent company with a strong management team and a good record of profit growth. I am confident it will thrive as an independent company."
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