US venture capital firm Kohlberg Kravis Roberts (KKR) said it has decided not to pursue its plans for a potential offer for UK supermarket chain Safeway for the time being.

KKR said, however, that it would continue to monitor the situation and keep its position under review.

Last month KKR joined the list of potential bidders for the supermarket chain. Safeway has received a lot of interest since rival Morrisons made a surprise bid for the chain in early January.