Boots to return to London stock market

A FTSE100 constituent until it was taken private in a ?11.1bn leveraged buy-out led by Alliance Boots? founder Stefano Pessina and private equity house KKR, the retailer is poised to return to the London Stock Exchange as part of an attempt to increase Walgreens? European shareholder base.

Asked if he foresaw a London listing for Walgreens? shares, chief executive Greg Wasson told The Sunday Telegraph: ?Certainly. We?ve had a pretty good investment base in the UK and Europe and we hope that that will grow as a result of the deal.?

While such a move is not expected immediately, it reflects the global ambition of the company, which has an option to buy the remaining 55pc of Alliance Boots within three years. The move would most likely be enacted via a secondary listing in London.

Mr Wasson and Mr Pessina want the business to be a global healthcare giant, and greater access to capital markets would help.

European investors in Walgreens include Bailie Gifford, with a 0.8pc holding, and Norges, which manages Norway?s government pension fund, with a 0.99pc stake.

Mr Pessina, who created Alliance Boots through more than 1,500 acquisitions, said he would be happy for Mr Wasson to run the combined business.

?I am 71, I will work to add some more pieces to these companies,? he said. ?But I believe that Greg has understood completely my philosophy.?

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