The owner of Boots could be considering a £7 billion London listing for the high street pharmacy company, reviving exit talks two years after a planned sale fell through.
Tim Wentworth, the chief executive officer of Walgreens Boots Alliance Inc (NASDAQ:WBA), revealed “everything is on the table" when it comes to planning the next step for the UK retailer.
He added that the US owner is “evaluating all strategic options to drive sustainable long-term shareholder value”.
In January 2022, the company placed Boots for sale, with a £5 billion price tag attached, but abandoned the plans by June, having failed to attract any buyers.
Boots reported a 9.8% retail sales increase in the third quarter, as it continues to recover from footfall slumps during the pandemic.
The positive performance contrasts with Walgreens Boots Alliance's struggles in the US, with the conglomerate posting a US$39 million first-quarter operating loss, albeit an improvement from last year.
Sales rose 10% to US$36.7 billion, but investors were likely disappointed as its quarterly dividend was cut by close to half in a bid to reduce debt.
The group aims to save US$1 billion this year, through cost-saving measures like store closures.
Boots plans to reduce its 2,200 UK stores to 1,900 by summer 2024.