India's Reliance, Apollo Global plan joint bid for Walgreens' Boots business

REUTERS/Shailesh Andrade

Indian conglomerate Reliance Industries Ltd and U.S. buyout firm Apollo Global Management are planning a joint bid for UK high street pharmacy chain Boots, a spokesperson for Apollo confirmed on Wednesday.

The Financial Times, which first reported on the joint bid citing people familiar with the matter, said the deal would see Boots expand its presence into India, Southeast Asia and the Middle East.

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