A private equity firm is reportedly in talks to buy Walgreens Boots Alliance (WBA), which could end up resulting in a new auction of its subsidary, Boots.
Sycamore Partners is expected to explore separate ownership for Boots after The Wall Street Journal reported that the firm was in talks to buy parent company WBA in a $10bn-plus takeover bid.
A potential sale of Boots has been attempted numerous times over the past few years, with WBA planning and then aborting at least two possible sale processes deciding offers were not of sufficient value.
Italian dealmaker Stefano Pessina is set to play a central role in the deal after he led a string of other deals involving the pharmacy retailer over the last two decades, according to Sky News.
Pessina holds around a 17% stake in WBA and could end up as a primary owner of Boots depending on the outcome of the deal.
In 2012, Walgreens acquired a 45% stake in Alliance Boots and completed the buyout of the business two years later.
The retailer also named a new managing director in September following the departure of Seb James. Anthony Hemmerdinger started his role as managing director in November, bringing over 30 years of experience across the UK retail sector.
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