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Walgreens Boots Alliance Reduces Stake in China Drug Distribution JV

publication date: Dec 26, 2017

Walgreens Boots Alliance will reduce its ownership in its China drug distribution JV with Guangzhou Pharmaceuticals Corp. The company announced plans to sell a 30% stake in the JV to Guangzhou for an undisclosed price, reducing its ownership in the JV to 20%. Earlier this month, WBA agreed to pay $420 million for a 40% stake in Sinopharm Holding's GuoDa Drug Store Company, the largest retail pharmacy chain in China. WBA is a global chain consisting of retail pharmacies and drug distribution operations. More details....

Stock Symbol: (NYSE: WBA)

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