// Boots chief executive quashes fears that interest in the chemist retailer has dried up
// Four bidders have made pitches for Boots, including Apollo, Asda-buyer TDR Capital and Sycamore
The boss of UK chemist Boots has pushed back against concerns that a desired £7bn sale is facing subdued demand, instead insisting that there is still “a lot of interest” in the retailer.
Walgreens Boots Alliance, the US owner of Boots, announced in December it was planning to sell the 172-year-old business and has been eyeing a sale of the chemist, with hopes of a £7bn price tag.
While there are number of companies have been named as potential suiters there have been reports and growing fears that a lower price tag is currently on the business.
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However, Boots chief executive Seb James has quashed fears that interest in the retail giant has dried up.
In an interview with the BBC James said: “‘There’s certainly a lot of interest [from potential bidders],”
Four bidders have already made pitches for Boots, including private equity firms Apollo, TDR Capital and Sycamore.
It also emerged earlier this month that India’s richest man, Mukesh Ambani, is considering a bid.
Last month TDR, which helped to buy Asda with the Issa brothers, was thought to be a frontrunner for Boots, which traces its history back to 1849.
Earlier this week TDR Capital claimed the value of its investment in Asda had increased by nearly 20 times as it readies a potential bid for the pharmacy chain Boots.
Asda is currently gearing up to potentially raise more funds to back a £6 billion buyout of Boots although the details behind the claim are not clear.
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