Monday, 13 December 2010

How Boots’ Swiss move cost UK £100m a year

boots-pharmacy-pic-getty-206912911.jpg In June 2008, after more than a century and a half in the UK, Boots moved out of the country to Switzerland.
The British household name had been acquired, along with its parent company, Alliance Boots, in Europe’s largest private equity deal in 2007, thanks to £9.3bn of borrowing from banks and other investors.
The deal squeaked in with this enormous burden of debt just before the credit crunch brought such lending to a jolting halt. Private equity’s gain turned out to be the UK revenue’s loss. Read more on Guardian

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