The American owner of the Hi Street Pharmacy series shoes Special is taken in a $ 10 billion deal (7.8 billion pounds), which will put an end to nearly a century trading on the public markets of the Walgreens Boots alliance.
The company, which runs more than 1,800 shoe stores in the United Kingdom, was sold to the American private stock company after struggling in the Internet as customers turned online shopping for cheaper products.
Walgreens’s market value has collapsed by 90 % since 2015 and is now estimated at $ 9.3 billion. It has debt and leasing obligations of $ 30 billion.
SYCAMORE PARTNERS estimated a $ 11.45 deal for the company, giving it the value of shares of about 10 billion dollars.
However, investors can obtain an additional $ 3 per share based on the sale of primary care work for Walgreens, Villagem, and business evaluation, including debt, at $ 23.7 billion.
After the deal talks appear in December, it is reported that if the sale is completed, SYCAMORE will keep the American retail sale and sell it or revolve around the remaining business, which includes UK pharmacy shoes.
Boots includes more than 50,000 employees, including its headquarters in Nottinghamshire, who face more uncertainty after nearly three years of speculation about its future ownership.
In 2022, Walgrens put the shoes for sale but later dropped the plans as potential buyers I struggle to raise funds. A Plans to float the work have been dropped last year.
“The shoes It seems that the works are floating prominently, but we will have to wait until this time next year to see him trying to subscribe because its new owner, Sycamore will not complete the walgreens even [the last three months of] this year. “
Walgrens first got a share in Boots in 2012 and completed a two -year purchase. In 2020, during the Korona virus pandemic, Poits said it was Lower 4000 jobsAbout 7 % of the workforce, closed nearly 50 branches of optical specialists.
Two years ago, the series announced Close 300 storesAnd that was completed at the end of last year, where its property developed.
The deal will put an end to the 98 -year -old operation of Walgreens as a listed company, although the second largest pharmacy chain in the United States still has 35 days to search for competitive bids or entertain it.
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As part of the deal with SYCAMORE, Italian billionaire Stefano Pesina, CEO of Walgrens and the largest shareholder will keep a minority to work.
Pessina falsified the pharmacy company via Atlantic by U.S. -based Walgrens with Alliance Boots of EuropE in 2014After paying 4.3 billion pounds to take a 45 % stake in work in 2012.
The market value of Walgreens reached its peak at 100 billion dollars after a short period of completion of the merger, but it decreased during the past decade, as the e -commerce reached its circulation in the high streets.
Walgrens, CEO of Walgrens, said that the company was traveling in “the challenges of the advanced pharmacy industry quickly and the increasingly complex and competitive segmentation scene.”
He said: “While we make progress against the ambitious transformation strategy, it will take time to create a significant value. The focus and change that is managed better as a private company.”
