Reliance rumored to be in the running for Boots

Reliance rumored to be in the running for Boots

THE WHAT? Indian multinational conglomerate, Reliance Industries is said to be considering entering a bid for Walgreens Boots Alliance’s UK pharmacy chain, Boots, according to a report published by Reuters quoting Bloomberg as its source.

THE DETAILS The British high street stalwart is being sold via auction, led by Goldman Sachs. Other bidders are said to include TDR Capital, CVC Capital Partners and Bain and Apollo.

THE WHY? Although there’s no guarantee that Reliance will enter the fray, the Maharashtra-based firm’s retail division is said to be the largest in India, operating some 1466 stores while its Reliance Life Sciences operates in the pharma and biotech industries, making Boots a good fit on several levels.

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