Deutsche Bank stands to make at least £4m (€5.8m) in fees after winning the investment banking beauty parade to advise CVC Capital Partners on the sale of Kwik-Fit, the car parts retailer.

Deutsche beat competition from Merrill Lynch, Citigroup, Goldman Sachs and Morgan Stanley for what is expected to be a trade sale or secondary buy-out valuing Kwik-Fit at £800m, or roughly ten times last year's earnings before interest, tax, depreciation and amortisation.