Walgreen Co. (NYSE: WAG) has agreed to acquire a 45% stake in European pharmacy retailer Alliance Boots for approximately $6.7 billion (including $4 billion in cash). Walgreen also has an option to acquire the remaining 55% during the six-month period beginning 2.5 years after the initial closing. Alliance Boots shareholder Kohlberg Kravis Roberts & Co. will receive $2 billion of the $6.7 billion transaction, including $1.8 billion in cash, while KKR partner Dominic Murphy will join the Walgreen board of directors.
Bank of America Merrill Lynch is in talks to sell its international wealth management unit to Julius Baer, according to the NY Times.
Hopu Investment Management has sold its 5.9% stake in China Mengniu Dairy (HK: 2319) to UK-basedArla Foods for $289 million. www.mengniuir.com
Lyceum Capital has sold M&C Energy Group Inc., a UK–based provider of energy procurement, compliance and performance services, to Schneider Electric SA. No financial terms were disclosed. Baird advised M&C on the transaction. www.mcenergygroup.com
Trian Fund Management disclosed that it has accumulated a 5.1% stake in Lazard Ltd. (NYSE: LAZ), whose shares rose around 5% on the news. www.lazard.com
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