Casa Saba to sell pharma retail arm to Alliance Boots for $638 mln
MEXICO CITY May 6 (Reuters) - Mexican company Grupo Casa Saba said on Tuesday it had agreed the sale of its pharmacy retail business to European retailer Alliance Boots for 8.3 billion Mexican pesos ($638.07 million).
The transaction requires Alliance to launch a tender offer for the shares of Farmacias Ahumada S.A., which trade on the Chilean stock exchange, Casa Saba said in a statement.
Farmacias Ahumada has over 1,400 stores across Mexico and Chile and is also the franchise licensee for GNC, a chain of health consumer products in Chile and Brazil, it added.
Alliance Boots, which runs Europe's largest pharmacy chain, is 45 percent owned by U.S.-based Walgreen Co.
($1 = 13.0080 Mexican Pesos) (Reporting by Mexico City Newsroom)
- Ukraine says Russian tanks flatten town; EU to threaten more sanctions |
- F-16s dispatched for unresponsive pilot of small plane near D.C.
- EU wields Russia sanctions threat but timing vague |
- Polish president warns Germany of Putin's 'empire' ambitions
- Trapped peacekeepers at Golan Heights moved to secure area: Philippine military chief