Details from the Announcement
On December 6, Walgreens Boots Alliance announced an agreement to invest in Sinopharm Holding Guoda Drugstores (GuoDa), a subsidiary of China National Accord Medicines Corporation, which operates and franchises retail pharmacies across China.
Walgreens Boots Alliance plans to acquire a 40% minority stake in GuoDa through a capital increase worth ¥2.767 billion (around $416 million), subject to regulatory review and approval and other customary closing conditions.
GuoDa, a large national pharmacy chain in China, was established in March 2004 and is headquartered in Shanghai. It operates more than 3,500 retail pharmacies in approximately 70 cities across 19 provinces, autonomous regions and municipalities in China, and employs nearly 20,000 people.
