Alliance Boots announces today that it has acquired ownership of its associate, Alliance Healthcare Russia, from AB Acquisitions Holdings Limited, the ultimate parent company of Alliance Boots.
This follows the recently established strategic partnership with Walgreen Co. (Walgreens), which included among other things, an option for Walgreens to acquire the Alliance Healthcare Russia shareholding on exercise of its option to proceed to a full merger with Alliance Boots.
The change aligns accounting for the Group’s interests in Russia under IFRS and US GAAP.
Notes to editors:
Alliance Boots is a leading international, pharmacy-led health and beauty group delivering a range of products and services to customers. Working in close partnership with manufacturers and pharmacists, we are committed to improving health in the local communities we serve and helping our customers and patients to look and feel their best. Our focus is on growing our two core businesses: pharmacy-led health and beauty retailing and pharmaceutical wholesaling and distribution.
Alliance Boots has a presence in more than 25* countries and employs over 116,000* people. Alliance Boots has pharmacy-led health and beauty retail businesses in 11* countries and operates more than 3,330* health and beauty retail stores, of which just over 3,200* have a pharmacy. In addition, Alliance Boots has around 625* optical practices, of which around 185* operate on a franchise basis. Our pharmaceutical wholesale businesses supply medicines, other healthcare products and related services to more than 170,000* pharmacies, doctors, health centres and hospitals from over 370* distribution centres in 21* countries.
* Figures are approximations as at 31 March 2012 and include associates and joint ventures.
For further information, please contact:
Yves Romestan/Laura Vergani/Katie Johnson/Julie Longton, Alliance Boots.
Tel: +44 (0) 207 980 8585
Katie Lang/Claire Scicluna, RLMFinsbury. Tel: +44 (0) 207 251 3801