Boots could return to London market as US owner enters talks with private equity outfit Sycamore Partners
Share:
Speculation over the future of the owner of Boots has rekindled hopes it could return to the London stock market. US giant Walgreens Boots Alliance, which owns the chemists chain, is in talks about selling itself to private equity group Sycamore Partners.
New York-listed Walgreens is valued at around £5billion. Sycamore is thought to be keen to ditch Boots, which would put a London listing on the cards. This would be a major boost for the City amid concerns over the health of the UK market. And analysts think Boots is more attractive to buyers and investors now than when it was up for sale two years ago.
US giant Walgreens Boots Alliance, which owns the Boots chemists chain, is in talks about selling itself to private equity group Sycamore Partners. Sycamore and Walgreens have been discussing a deal that could complete early next year, according to the Wall Street Journal.
Pharmacy tycoon Stefano Pessina, the chairman of Walgreens who owns a 17 per cent stake, could end up as the owner of Boots, Sky News reported. Another option would see Boots spun off and listed on the London Stock Exchange. Independent retail analyst Nick Bubb said: ‘The question is: could Boots be floated now? And I was sceptical about that a year ago, as the recovery of the business didn’t seem sustainable, but Boots has continued to outperform in 2024.
