Boots owner WBA contacts potential buyers for £7 billion sale - Indoors Beauty

Boots owner WBA contacts potential buyers for £7 billion sale

Boots owner WBA contacts potential buyers for £7 billion sale

Boots owner Walgreens Boots Alliance is contacting potential buyers to promote the British well being and wonder retailer. 

The firm is working with advisers to carry preliminary discussions with potential bidders, in accordance with Bloomberg.

It is believed to be looking for £7 billion for the excessive road retailer, which just lately reported a 3% rise in gross sales for the second quarter, reflecting progress throughout all classes and an elevated retail market share.

The information comes after hypothesis mounted for months that WBA is perhaps trying to promote Boots. Reports final yr urged that the US-based firm was contemplating a £7 billion London itemizing of the excessive road retailer because it appeared to dump the enterprise.

This got here simply weeks after Boots offloaded its pension scheme to monetary companies firm Legal & General in a £4.8 billion deal.

The transfer, which was stated to be a precursor to the sale of Boots, leaves it as much as Legal & General to pay members’ pensions on to them, winding up the previous Boots pension scheme.

Walgreens Boots Alliance, also called WBA, was fashioned by the mixture of Walgreens and Alliance Boots in 2014.

The transaction introduced collectively two retail giants with “iconic manufacturers, complementary geographic footprints, shared values and a heritage of trusted healthcare companies by pharmaceutical wholesaling and group pharmacy care, relationship again greater than 100 years”.

Boots was additionally beforehand put up for sale with a price ticket of £7 billion in 2022. This was later referred to as off after failure to discover a appropriate purchaser.

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