Boots-owner to sell majority of its Alliance Healthcare arm for £4.8bn


Boots-owner agrees £4.8bn deal to sell majority of its Alliance Healthcare wholesale and distribution business

Walgreens Boots Alliance is to sell the majority of Alliance Healthcare to US drug wholesaler AmerisourceBergen

Walgreens Boots Alliance is to sell the majority of Alliance Healthcare to US drug wholesaler AmerisourceBergen

Walgreens Boots Alliance (WBA) has done a $6.5billion (£4.8billion) deal to sell most of its Alliance Healthcare wholesale and distribution arm.

The Boots owner agreed a price for the business, previously called Alliance Unichem, to US drug wholesaler Amerisource Bergen.

The buyer will acquire the majority stake for £6.3billion in cash and 2m Amerisource Bergen shares. 

WBA told investors yesterday that the sale will allow it to increase its focus on its core retail pharmacy business.

Alliance Healthcare UK will remain as Boots’ distribution partner until 2031, despite the sale.

In the US, Alliance will continue its distribution partnership for WBA until 2029.

WBA is the largest investor in Amerisource Bergen, owning almost 30 per cent, after the companies launched a partnership.

Stefano Pessina, chief executive of WBA, said: ‘It is a logical step following the success of our relationship with Amerisource, which has been a strong and trusted partner since 2013.’

READ  US companies raise $28bn of cheap debt in a single day



READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here