Walgreens chair Pessina to almost double stake as part of Sycamore deal

 The executive chairman of Walgreens Boots Alliance (NASDAQ:WBA), Stefano Pessina, is expected to nearly double his company ownership to about 30% after the U.S. pharmacy chain completes its buyout arrangement with private equity firm Sycamore, The Financial Times reported Tuesday.

The billionaire investor is Walgreens’ (NASDAQ:WBA) biggest shareholder, with an equity stake of about 17% worth as much as $2.1B currently.

New York-based Sycamore agreed to take the company private early this month in a deal worth about $10B that is expected to close in Q4 2025. A 35-day period in which WBA management can consider rival offers is currently ongoing.

The company had previously disclosed that Pessina would invest cash into the transaction and continue to hold significant equity ownership in the business he helped form in 2014 by combining European retailer Alliance Boots with U.S.-based Walgreens. However, the company hadn’t detailed the size of his post-transaction stake. 

https://www.msn.com/en-us/money/companies/walgreens-chair-pessina-to-almost-double-stake-as-part-of-sycamore-deal-ft/ar-AA1B9uP4