Morgan Stanley, ABN Amro and Merrill Lynch have helped Vendex KBB and Leroy Merlin secure the acquisition of Belgian do-it-yourself (DIY) chain Brico in a complex deal that will lead to a division of the assets.

Last year Rothschild began an auction process for Belgian client GIB, which wanted to sell off its DIY business, and has stores in Belgium, Spain, France and Portugal. Vendex, the Dutch retailer, was bidding for the store, with financial advice from ABN Amro and Morgan Stanley. In addition, Leroy Merlin, the French retailer, was bidding for Brico, with advice from Merrill Lynch.