Latham advised financing sources to Wittington Investments, Limited, the holding company of the Weston family based in Canada, in connection with their agreement to acquire Boots and its associated businesses, in partnership with Fairfax. The total purchase consideration is US$8.9 billion, including assumed debt. Under the terms of the agreement, Wittington will acquire Boots’ retail operations in the UK and Ireland, Boots Opticians, No7 Beauty Company, and its Thailand and franchised businesses. The transaction is subject to certain regulatory approvals and the satisfaction of customary closing conditions.
Latham supported the financing sources in the transaction with a cross-border team led by partners Jennifer Engelhardt, Dan Maze, Paul Bonewitz, Nicole Fanjul, Victor Ludwig, and Roberto Reyes Gaskin, with counsel Katherine Page and associates Tian Lin, Philipp Hagenbuch, Chiara Coppotelli, Alex Despotovic, Riddhima Wahi, Alex Natarajan, and Robert Dinan with assistance from Casey Pepa. Advice was provided on tax matters by partners Karl Mah, Aoife McCabe, and Bora Bozkurt, with associates Allegra Benitah and Michael Yu.
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