Boots float in London nonetheless viable, says proprietor
- Tim Wentworth says potential £7bn UK market itemizing continues to be on the desk.
The American proprietor of Boots stated yesterday a possible £7bn itemizing of the chemist on the London inventory market was nonetheless on the desk.
Tim Wentworth, chief government of Walgreens Boots Alliance, added that he was ‘evaluating all strategic options’ to ‘drive sustainable long-term shareholder value’.
Among the probabilities is itemizing on the London Stock Exchange (LSE) in what could be an enormous shot within the arm for the City.
Boots is ‘evaluating all strategic options’ to ‘drive sustainable long-term shareholder value’
His feedback observe studies in December that Walgreens had resumed discussions to promote the British chain.
It may very well be valued at £7bn, the identical price ticket the enterprise was put up on the market with in 2022 earlier than Walgreens backtracked just a few months later.
It blamed an ‘unexpected and dramatic change’ in market circumstances as its cause for ditching the sale.
Private fairness giants Apollo, TDR Capital and Sycamore made pitches however Walgreens later stated nobody made an enough provide.
Should Boots, which started as a household natural drugs store in Nottingham in 1849, return to itemizing in London, it could be a desperately wanted vote of confidence for UK markets. B
oots cheered a 9.8pc improve in gross sales within the three months to the top of November. ÷ TUI bosses have known as on shareholders to again plans to go away the London Stock Exchange.
The journey group, listed in each London and Frankfurt, has beneficial traders vote in favour of simplifying its construction.
The LSE has seen a flurry of firms give up up to now yr. Shareholders vote on the proposal on February 13
