Walgreens Boots Alliance is one step closer to selling its namesake drugstore chain, Boots, according to a report published by Reuters.
The deadline for interested parties to place indicative bids on Thursday, last week; the UK-based pharmacy is expected to fetch in the region of US$10 billion.
Bidders are said to include Asda-owner, TDR Capital, CVC Capital Partners, Bain Capital, Sycamore Partners and Apollo, according to Reuters, quoting anonymous sources.
WBA announced a strategic review focusing on both its Boots chain and No7 brand late last year, following which an auction process led by Goldman Sachs was set in motion. Thanks to impressive sales figures for the final quarter, and interest from multiple investors, the chain is expected to fetch a figure in the upper end of its valuation.
