Deal Snapshot
WALGREENS BOOTS ALLIANCE TO ACQUIRE 40% OF CHINESE PHARMACY CHAIN GUODA FOR USD 416M
Wednesday 06 December 2017

US-based drugstore chain operator Walgreens Boots Alliance, Inc. (NASDAQ: WBA) has reached an agreement with China National Accord Medicines Corp. Ltd. to become an investor in its subsidiary Sinopharm Holding Guoda Drugstores Co., Ltd. which operates and franchises retail pharmacies across China, the company said on Wednesday.
Following a public tender process, Walgreens Boots Alliance's bid met all the requirements set by the seller to acquire a 40% minority stake in GuoDa through a capital increase worth RMB 2.767bn (around USD 416m). The transaction is subject to regulatory review and approval, and other customary closing conditions. Upon completion, Walgreens Boots Alliance would account for this stake as an equity method investment.


TKUqg0 http://www.FyLitCl7Pf7kjQdDUOLQOuaxTXbj5iNG.com
Details
Date Published: 06/12/2017
Target: Sinopharm Holding Guoda Drugstores/40% stake
Country: China
Deal Size: 416m (USD)
Sector: Wholesale/Retail
Type: JV
Financing: Cash
Status: Agreed
Vendor: China National Accord Medicines Corp
Buyer: Walgreens Boots Alliance
Comment:


Options