Boots sold to private equity for £18.4billion

Boots has been sold in a private deal with an estimated value of £18.4 billion. 

Private equity firm Sycamore Partners plans to pay its investors £8.86 per share to Walgreens Boots Alliance, the US owners of Boots. This comes after the company has suffered significant financial losses over the past few years. 

Walgreens purchased a 45% stake in Boots in 2012, having previously been worth over $100billion. It purchased the remaining stakes in Boots in 2014. 

Since then, it has closed over 300 stores and significantly reduced its high street existence.