The group of firms led by Kohlberg Kravis Roberts, who is going after Coles, has lost a member.

It has been confirmed by a spokesperson for the consortium that the private equity firm CVC has withdrawn from the alliance. At the end of last week, the group concluded their exploration into Coles' books. However, they have yet to make an offer.

This might be good news for Wesfarmers Ltd, who is also vying for control of Coles. Wesfarmers has already made a bid for the company valued at $19.7 billion.

The Kohlberg Kravis Roberts-led consortium vying for control of retailer Coles Group Ltd said global private equity firm CVC has withdrawn from the bidding consortium.

A spokesman for the bidding group confirmed CVC's departure which will strengthen the chances of a rival bidder led by Wesfarmers Ltd winning control of Australia's largest retailer.

(Continue reading this story on FinanzNachrichten)

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