🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Shares

Celesio buys Sainsbury's pharmacies

Published 29/07/2015, 09:40
© Reuters. The company logo is pictured at the headquarters of Celesio in Stuttgart
CAKFF
-
SBRY
-
MCK
-

FRANKFURT (Reuters) - German drugs distributor Celesio (DE:CLSGn) has agreed to buy Sainsbury 's (L:SBRY) pharmacy business for 125 million pounds via its British chain LloydsPharmacy.

As part of the deal, LloydsPharmacy will buy 281 pharmacies, most of which are in Sainsbury's stores, Celesio said in a statement on Wednesday.

The pharmacies will be rebranded as LloydsPharmacy, and as many as 2,500 of their workers will be transferred to the new owner.

Sainsbury's will receive commercial annual rent payments from LloydsPharmacy for each location, said Celesio, which is three-quarters owned by McKesson (N:MCK).

© Reuters. The company logo is pictured at the headquarters of Celesio in Stuttgart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.