The health, beauty and pharmacy retailer will retain£400 million to fund additional investment in the group, with the rest distributed among shareholders and for transactional fees.
The disposal will give rise to an accounting profit of£1.4 billion, which will be
reported under 'other operating income and expenditure' in Boots' results for the year ending March 31. BHI operating profit for the 10 months to January 31 are expected to be about£80 million.
The£400 million retained in the business will be used to finance an additional payment of£85 million into the Boots pension scheme and to enhance the ongoing programme to build the company through investing in stores and in reducing structural costs, as well as to strengthen the group's balance sheet.
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