Mar 1, 2022
Boots sale thrown off course by fewer buyers and market turmoil
Plans for a multi-billion-pound sale of UK chemist Boots have run into a series of difficulties after a potential buyer walked away and bidders raised concerns about financing a deal with markets in turmoil because of Russia's invasion of Ukraine. A consortium of Bain Capital and CVC Capital, previously seen as a leading candidate to buy the business from US parent Walgreens Boots Alliance, did not make a bid ahead of a deadline last week, two people with knowledge of the matter said. The pharmacy-led chain was put up for sale by WBA late last year, as it concentrates on retailing and an expansion of medical services in its home market. Boots has a large defined-benefit pension scheme, which is in surplus but not by enough to allow a buyout by an insurer. Boots derives about 45 per cent of its revenue from providing services to the UK's state-run health service, including prescriptions and vaccinations.
Related companies
Make a complaint about Boots by viewing their customer service contacts.
