As per reports, Walgreen Boots Alliance (WBA) has abandoned the sale of its Boots drugstore chain that was expected to bring +$6B after failing to secure the desired valuation for the UK business amid an unstable credit market.
The healthcare group had been in talks with a consortium between Reliance Industries Ltd. and Apollo Global Management Inc. over the sale of Britain’s biggest pharmacy chain, however, the two parties couldn’t reach an agreement on value, prompting Walgreens to pull the sale.
The Reliance-led consortium was offering less than the £7 billion Walgreens had initially sought. The main competitor in the bidding was a consortium of Britain’s billionaire Issa brothers and TDR Capital. However, the race between the two lost steam as financing markets became weighed down by rising concerns around inflation and the Ukraine-Russia war.
Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.
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