India’s Reliance, Apollo Global Plan Joint Bid for Walgreens’ Boots Business
Indian conglomerate Reliance Industries Ltd. and US buyout firm Apollo Global Management are planning a joint bid for UK high street pharmacy chain Boots, a spokesperson for Apollo confirmed on Wednesday.The Financial Times, which first reported on the joint bid citing people familiar with the matter, said the deal would see Boots expand its presence into India, Southeast Asia and the Middle East. Both Reliance and Apollo would own stakes in Boots under the plan, although it is not clear whether the stakes would be of the same size, according to the FT report.
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