Reliance Looking To Bid For Walgreens Boots Alliance

Reliance looking to bid for Walgreens Boots Alliance. Indian industrialist Mukesh Ambani’s Reliance Industries is continuously expanding its business.

Meanwhile, there are now reports that Reliance Industries is planning to bid for the UK-based business of drug retailer Walgreens Boots Alliance.

India’s Reliance Industries is considering a bid for drug retailer Walgreens Boots Alliance’s UK-based boots business, Bloomberg News reported on Wednesday, citing people familiar with the matter.

According to the news agency Reuters, The auction information was already there!

Reuters reported in February, citing sources, that the boots business was being sold through an auction process led by Goldman Sachs and could be worth up to £8 billion ($10.49 billion).

According to the company’s website, the Boots business is spread across 2,200 stores in the UK, including pharmacies, and health and beauty stores.

Reliance looking to bid: No statement from Boots and Reliance.

The Bloomberg report quoted sources as saying that discussions were underway and there was no certainty that Reliance would actually bid for Boots.

The sources said this on the condition of keeping their identity confidential.

However, a Boots spokesperson declined to comment on the news. At the same time, there has been no statement from Reliance on this too.

TDR Capital also included in the claimants

Other contenders for Boots include TDR Capital, a consortium of CVC Capital Partners and Bain Capital, as well as American investment firm Apollo. TDR Capital also owns the supermarket chain Asda.

Walgreens’ January statement.

US-based Walgreens said in January that it was conducting a strategic review of the Boots business as it shifts its focus to home healthcare.

World Bank lowers India’s growth forecast, Russia-Ukraine war became the reason

The World Bank has reduced India’s economic growth forecast. It says that the Russia-Ukraine war will have an impact on the growth outlook for South Asia as a whole.

Due to this, India’s economic growth rate may come down from 8.7 percent to 8 percent in the current financial year. At the same time, the growth rate of the South Asia region is estimated to be 6.6 percent.