//The American owner of Boots has taken over £4.3 billion of dividends from its UK holding companies
// At the start of the pandemic Boots received £36m financial support to furlough staff
What’s more, another UK-based holding company, WBA Financial, dished out a $353m dividend to Walgreens last year.
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The dividends had not come “directly or indirectly” from Boots UK, a Walgreens spokesperson told the newspaper.
Drawing out cash from government emergency funds amid the pandemic helped the firm protect jobs at an “extremely challenging and uncertain time”, they added.
Adam Coffer, chairman of the Property Owners Forum, told The Times: “Walgreens claimed it couldn’t meet its contractual obligations to property owners but it looks like we have bankrolled its huge dividends.”
It has been speculated that the retailer’s deadline for proposals is fast approaching, with Walgreens reportedly setting a deadline of 16 May for bids.
It is hoping to sell the pharmacy chain for around £7bn, although a consortium made up of private equity titans CVC and Bain withdrew from the race after admitting they would only be willing to cough up £4bn for it.
Suitors who have thrown their hat in the ring and may potentially make a bid are thought to include private equity firms Apollo, TDR Capital and Sycamore.
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