DEERFIELD, Ill.--(BUSINESS WIRE)--
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announces that it has
entered into an agreement to reduce its stake in Guangzhou
Pharmaceuticals Corporation, a pharmaceutical wholesaling joint venture
in China, following an offer from its joint venture partner Guangzhou
Baiyunshan Pharmaceutical Holdings Co. Ltd.
Subject to regulatory review and approval and other customary closing
conditions, Walgreens Boots Alliance will sell a 30% interest in
Guangzhou Pharmaceuticals Corporation to Guangzhou Baiyunshan
Pharmaceutical Holdings that, following the proposed sale, would own
80%. Upon completion, Walgreens Boots Alliance will own a 20% interest
in Guangzhou Pharmaceuticals Corporation and will continue to account
for its remaining stake as an equity method investment.
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led,
health and wellbeing enterprise. The company's heritage of trusted
health care services through community pharmacy care and pharmaceutical
wholesaling dates back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health and
daily living destination across the U.S. and Europe. Walgreens Boots
Alliance and the companies in which it has equity method investments
together have a presence in more than 25* countries and employ more than
385,000* people. The company is a global leader in pharmacy-led, health
and wellbeing retail and, together with the companies in which it has
equity method investments, has more than 13,200* stores in 11* countries
as well as one of the largest global pharmaceutical wholesale and
distribution networks, with more than 390* distribution centers
delivering to more than 230,000** pharmacies, doctors, health centers
and hospitals each year in more than 20* countries. In addition,
Walgreens Boots Alliance is one of the world's largest purchasers of
prescription drugs and many other health and wellbeing products.
The company's portfolio of retail and business brands includes
Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as
increasingly global health and beauty product brands, such as No7, Soap
& Glory, Liz Earle, Sleek MakeUP and Botanics.
The company ranks No. 1 in the Food and Drug Stores industry of Fortune
magazine's 2017 list of the World's Most Admired Companies.
More company information is available at www.walgreensbootsalliance.com.
* As of 31 August 2017, using publicly available information for
** For 12 months ending 31 August 2017, using publicly available
information for AmerisourceBergen.
Cautionary Note Regarding Forward-Looking Statements
All statements in this release that are not historical statements are
forward-looking statements made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements regarding the agreement to
sell a portion of Walgreens Boots Alliance's stake in Guangzhou
Pharmaceuticals Corporation to Guangzhou Baiyunshan Pharmaceutical
Holdings Co. Ltd, the transaction contemplated thereby and the possible
timing and effects thereof, and the ability of the parties to complete
the transaction considering the various closing conditions. Words
such as "expect," "pending," "potential", "likely," "preliminary,"
"would," "could," "should," "can," "will," "project," "intend," "plan,"
"believe," "seek," "estimate," "anticipate," "may," "possible,"
"assume," and variations of such words and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements are not guarantees of future performance and
are subject to risks, uncertainties and assumptions, known or unknown,
which could cause actual results to vary materially from those indicated
or anticipated. Such risks include, but are not limited to, risks
related to the proposed transactions and acquisitions generally,
including the risk that the transactions may not close due to one or
more closing conditions to the transactions not being satisfied or
waived, risks related to the ability to realize the anticipated benefits
of the proposed transaction, the outcome of legal and regulatory
matters, the risk of unexpected costs, liabilities or delays, changes in
management's assumptions, and risks associated with changes in laws,
regulations or interpretations thereof. These and other risks,
assumptions and uncertainties are described in Item 1A (Risk Factors) of
Walgreens Boots Alliance's Annual Report on Form 10-K for the fiscal
year ended August 31, 2017, which is incorporated herein by reference,
and in other documents that Walgreens Boots Alliance files or furnishes
with the Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. Accordingly, you are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made. Except to the
extent required by law, Walgreens Boots Alliance does not undertake, and
expressly disclaims, any duty or obligation to update publicly any
forward-looking statement after the date of this release, whether as a
result of new information, future events, changes in assumptions or
View source version on businesswire.com: http://www.businesswire.com/news/home/20171222005173/en/
Walgreens Boots Alliance, Inc.
Michael Polzin, +1 847 315 2935
International / Laura Vergani, +44
(0)207 980 8585
Gradwell and Ashish Kohli, +1 847 315 2922
Source: Walgreens Boots Alliance, Inc.
News Provided by Acquire Media