Mexican company Grupo Casa Saba said on Tuesday it had agreed the sale of its pharmacy retail business to European retailer Alliance Boots for 8.3 billion Mexican pesos ($638.07 million). The transaction requires Alliance to launch a tender offer for the shares of Farmacias Ahumada S.A., which trade on the Chilean stock exchange, Casa Saba said in a statement.Farmacias Ahumada has over 1,400 stores across Mexico and Chile and is also the franchise licensee for GNC, a chain of health consumer products in Chile and Brazil, it added.Alliance Boots, which runs Europe's largest pharmacy chain, is 45 percent owned by U.S.-based Walgreen Co.($1 = 13.0080 Mexican Pesos)
Walgreen Co. (Walgreens), together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG fell by 0.42% or $-0.29/share to $69.56. In the past year, the shares have traded as low as $43.31 and as high as $70.07. On average, 6870060 shares of WAG exchange hands on a given day and today's volume is recorded at 181957.
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