RETAIL giant Kingfisher confirmed it is considering offers for ''part or all'' of its general merchandise division which includes the Woolworths and Superdrug chains.

But the group also insisted that it was still pushing ahead with its original plans to demerge the division.

A spokesman for the group confirmed that Kingfisher had received ''expressions of interest'' from a number of parties regarding its general merchandise business, which features both Woolworths and the health and beauty chain Superdrug.

Kingfisher would be considering each of the offers but said the most probable outcome remained a demerger which is most likely to take place in either April or May.

''We have a duty to our shareholders to gain maximum value for them, and we will consider all of the proposals before us, but a demerger remains the most probable outcome,'' he said.

Kingfisher is believed to have been approached by investment banks and private equity firms with strong interest in both Superdrug and Woolworths.

But it is thought that chemists' shop chain Superdrug has attracted the only firm offer.

Analysts estimate that the general merchandise division as a whole would be worth around £1.5bn, while Woolworths could attract a bid of up to £800m.

Analysts thought that retailers such as United States giant Wal-Mart, which owns the Asda supermarket chain, could be interested in buying Superdrug as a way of obtaining more pharmacy licences, which are legally necessary to run chemists' outlets across the UK.

Asda spent £100m last September on a deal with Alliance UniChem which included the transfer of 48 pharmacy licences to the supermarket business and a supply contract.

Kingfisher chief executive Sir Geoff Mulachy first revealed his plans for a demerger of the general merchandise division in September.

According to Sir Geoff the demerger would enable the division to expand while allowing Kingfisher's electrical and DIY business to focus on international consolidation