1st August 2007
MUNDAYS, the Surrey solicitors, has advised Alliance Boots in connection with the disposal of 93 pharmacies in compliance with the requirements of the Office of Fair Trading (OFT) following Alliance UniChem’s merger with Boots in July 2006. Mundays’ role was to prepare property due diligence for the 57 outlets in England and Wales forming part of the disposal and subsequently to deal with the various landlords’ consents for the transfers to the buyers. The 57 businesses that Mundays dealt with were sold by way of asset sales to 9 different operators.
Working closely with the in-house team at Alliance Boots, Commercial Property partner Ingrid Saffin led a team of nine lawyers who worked to a tight time scale.
Merrill Lynch advised Alliance Boots on the bidding process. Not surprisingly, the sale generated a great deal of interest and a large number of hopeful bidders. Bids were selected by way of a three stage process and Mundays provided reports and information via a virtual dataroom. Selected bidders were permitted to visit the dataroom in order to assess their bids.
Ingrid Saffin commented, “Having acted for Alliance Pharmacy for many years, this was our first deal for the newly merged Alliance Boots. The nature of the deal meant that we worked to a strict timetable, hand in hand with the three other law firms involved and with the in- house team at Alliance Boots. It was interesting to work so closely with the other firms, something that proved very successful, and it was exciting to be part of the project”.
Mundays worked together with Shoosmiths (led by partner David Morley), Burness LLP in Scotland (led by partner Tamar Tammes) and C & H Jefferson in Northern Ireland (led by partner Ciara McCloskey).
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