Credit Suisse First Boston (CSFB) has stepped down as Safeway's broker in order to advise Kohlberg Kravis Roberts (KKR) on a possible offer for part or all of the UK supermarket chain.

CSFB, which had been joint broker to Safeway, has relinquished the role to Schroder Salomon Smith Barney. Safeway said the bank had asked to step aside to avoid a potential conflict of interest.