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Take Stake in Alliance Boots for $6.7 Billion @@@
Opposite sides of the Atlantic betting rules, paper, towels, and nail polish, two major retail chains are global goods. On Tuesday, the U.S. drugstore chain Walgreen Co. agreed to a business that both companies expand their global reach allow for $ 6.7 billion 45% stake in Alliance Boots, the European Drug Retailers buying. Won the 2015 Walgreen, in full control of Alliance Boots company's benefits
"Alliance Boots in Europe and some emerging countries, the United States gets a long-sought entry. Deal with more than 11,000 stores in 12 countries with offices in 21 countries and a wholesale pharmaceutical business with the world's largest producer of the drugstore and pharmacy retailers. "The world's first truly global pharmaceutical and healthcare companies is to create opportunity,
" said Gregory Wasson's, walgreen photo chief executive, said in an interview. "There is nothing that can offer them." Dell, Chairman, Alliance Boots' Stefano Pessina, the latest strategic maneuvers represent the company's European business to a world. Over the years, Italian shoes billion international coalition has expanded through a series of acquisitions. In 2006, he and a rival shoe store 12 billion dollar merger between Alliance Unichem assistance.
After a year of the private equity firm Kohlberg Kravis Roberts, the continent with the largest leveraged buyout in the $ 22 billion on shoes for the Alliance joined forces. Mr Pessina in recent months following an acquisition or merger, either in Asia or North America, the Alliance, the international expansion of shoes to a person with direct knowledge of the matter as continued. "If we want to be a global company, we need a U.S. presence," Mr Pessina, who Walgreen interest in order to achieve 8 percent of the deal to reinvest their earnings, an interview said.
"We in the new markets in Asia and Latin America will continue our expansion." Walgreen 4 billion contract to another company for $ 2.7 billion in cash and shares to acquire 45 percent stake in the shoes of an allowance under the conditions. Kohlberg Kravis Roberts 1800000000 dollars was invested in tinnitus remedies Boots, said the $ 1.8 billion in cash and 200 million dollars will be Walgreen's receipt of goods. Drugstore chain options, the remaining 55 percent stake in Alliance Boots, three years after the deal in cash and shares for $ 9.5 billion is down.
If so, then the European Society Walgreen will assume debt of approximately $ 11 billion. Walgreen's stock closing price and exchange rate fluctuations may vary depending on performance. The deal comes as Walgreen's weakness in the domestic market is facing. The company on Tuesday May 31 to 11 percent of its revenues in the three months to $ 537 million loss reported for Walgreen shares around 5.8 percent in New York closed. Contract by U.S. companies in Europe is the latest in a series of goals. So far this year, Walgreen's Footwear Union of European mergers and acquisitions with combined value of the acquisition discount,, 99500000000 dollars Dealogic, the data provider reached.
Companies in the United States for about 43 percent of buyers. $ 99500000000 figures compared to the same period in 2011 representing a decline of 21 percent, but combined 72.7 billion dollars of transactions in the United States so far this year is over. As part of the agreement, Mr. Pessina, Alliance, shoes, and Dominic Murphy, Kohlberg Kravis Roberts, a partner at Walgreen's Walgreen's board include
Mr. Wasson and some executives of the company to join, Alliance Boots Board. Walgreen said that by 2016 150 million dollars in the first year, and as much as $ 1 billion in annual savings is expected to cost savings. The deal is expected to close by September 1st. Walgreen Goldman Sachs, Lazard and law firms Wachtell, Lipton, Aperture, and Katz and Allen & Overy has advised on, and Centerview Partners and the law firms of Simpson Thacher & Bartlett Maillot Brochier Darrois Villey and Footwear Union is advised.
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