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Reliance explores bid for Walgreens’ Boots business – Bloomberg News

Mount Equity Group Tokyo Japan > News > Business > Reliance explores bid for Walgreens’ Boots business – Bloomberg News

Labourers rest in front of an advertisement of Reliance Industries Limited at a construction site in Mumbai, India, March 2, 2016. REUTERS/Shailesh Andrade

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April 13 (Reuters) – India’s Reliance Industries (RELI.NS) is exploring a bid for drug retailer Walgreens Boots Alliance’s UK-based Boots business, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Boots is being sold as part of an auction process led by Goldman Sachs (GS.N) and can be valued at up to 8 billion pounds ($10.49 billion), Reuters reported in February, citing sources. read more

The Boots business spans across 2,200 stores in the UK, including pharmacies, health and beauty stores, according to the chain’s website.

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Deliberations were ongoing and there was no certainty Reliance would actually bid for Boots, the Bloomberg…

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