US PHARMACY chain, Walgreens Boots Alliance, will retain its ownership of British pharmacy giant, Boots, due to uncertainty in the global financial market.
The decision to abandon plans to sell Boots came less than a month after reports that Indian Billionaire, Mukesh Ambani's Reliance Industries, and US venture capital firm, Apollo Global Management were set to make a binding offer to buy the pharmacy group.
However, Reuters reported that economic uncertainty combined with rising inflation and interest rates, had made financing the deal challenging.
While the deal has been put on ice, investment firm, Evercore, said it viewed "a potential future sale as still likely within the next few years if the macro environment becomes more stable".
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