Apollo said to be leading race to buy Boots
Suitors are lining up to take over UK health & beauty retail giant Boots
The report from Sky News follows weekend reports of a potential £7 billion sale for the WalgreensAsda
The sale of Boots was thrown into doubt in recent weeks after a consortium of Bain Capital
However, city sources told The Sunday Times they are sceptical that Sycamore, which is also circling fashion chain Ted Baker
That leaves Apollo Global as a strong contender with the investment giant understood to be talks with banks including Bank of America and Credit Suisse to provide debt funding, Sky News reports. Apollo has so far declined to comment,
Although Apollo is likely to be able to secure the required financing for a Boots bid, debt markets have become increasingly difficult since Russia’s invasion of Ukraine last month, analysts noted.
A new round of bids for Boots, which trades from more than 2,000 stores and employs over 50,000 people, is expected early next month.
