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Three Companies Support Walgreens’ $ 5.2 Billion VillageMD Deal

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A Walgreens pharmacy in Austin, Texas. REUTERS / Mohammad Khursheed

  • Repeated advisers Sidley and Weil advise Walgreens Boots Alliance
  • Latham advises the returning VillageMD customer

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(Reuters) – Three law firms, including Sidley Austin and Latham & Watkins, are guiding Walgreens Boots Alliance Incs deal to invest $ 5.2 billion in VillageMD.

Walgreens and VillageMD announced the transaction on Thursday. The new business unit will provide pharmacy and primary care services, and Walgreens will increase its stake in the primary care service provider to approximately 63%.

Walgreens turned to regular advisers Sidley Austin and Weil, Gotshal & Manges for advice on investing. Sidley is acting as senior legal counsel.

The Sidley team includes M&A Partner Chris Abbinante, Tax Partner Scott Pollock, Benefits and Executive Compensation Partner Matt Johnson, and Privacy and Cyber ​​Security Partner Colleen Theresa Brown.

Abbinante, Pollock and Brown previously contributed to Walgreens’ $ 1 billion investment in VillageMD, according to a June 2020 press release.

Weil is also a familiar face in Walgreens transactions, including the company’s acquisition of the assets of 185 Freds Inc. Pharmacies and the purchase of approximately $ 5.18 billion from Rite Aid Corp stores and distribution centers, says. the company website. Weil served as antitrust counsel on these transactions.

VillageMD is working with Latham, who advised the company on its 2020 partnership with Walgreens.

Latham’s lawyers are headed by business partners Nathan Ajiashvili, John Giouroukakis and Dan Hoffman. Other members of the advisory team include tax partners Jocelyn Noll and Andrea Ramezan-Jackson; and Benefits and Compensation Associate David Della Rocca.

Ajiashvili and Hoffman also led the team that worked on the 2020 partnership agreement.

Read more:

Walgreens to invest more than $ 5.5 billion in healthcare

Walgreens partners with VillageMD to open primary care clinics in pharmacies

Sources

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2/ https://www.reuters.com/legal/transactional/three-firms-take-charge-walgreens-52-bln-villagemd-deal-2021-10-14/

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