Davis Polk is advising Bank of America Merrill Lynch as a joint bookrunner and joint lead arranger of a $3.5 billion senior unsecured bridge facility for Walgreen Co. in connection with its proposed acquisition of not less than 45% of the issued and outstanding equity interests in Alliance Boots GmbH.

Walgreens is the nation’s largest drugstore chain with fiscal 2011 sales of $72 billion. Walgreens provides nearly 6 million customers multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens’ scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. The company operates 7,890 drugstores in all 50 states, the District of Columbia and Puerto Rico.

Alliance Boots is a leading international, pharmacy-led health and beauty group delivering a range of products and services to customers. Alliance Boots has pharmacy-led health and beauty retail businesses in 11 countries and operates more than 3,330 health and beauty retail stores. Its pharmaceutical wholesale businesses supply medicines, other health care products and related services to more than 170,000 pharmacies, doctors, health centers and hospitals from over 370 distribution centers in 21 countries.

The Davis Polk credit team included partner Jason Kyrwood and associates Angela W. Cho, Xin Yu and Tsz Hin Kwok. The tax team included partner Rachel D. Kleinberg and law clerk Paul McLaughlin. Partner Martine M. Beamon provided litigation advice. Counsel Jeanine P. McGuinness provided economic sanctions advice. Members of the Davis Polk team are based in the New York, Menlo Park and Washington DC offices.



Related Posts:

Leave a Reply