Deals this week: Reliance Retail, Jiangsu Kangzhong Shiye Investment, Walgreens Boots Alliance


Reliance Retail and branded jewellery manufacturer Gitanjali Group have signed an exclusive partnership agreement.

The partnership aims to produce fine jewellery for leading brands at the newly launched Project Eve store in Mumbai, India.

Both the companies involved in the partnership are based in India.

"Walgreens Boots Alliance expects to realise $400m in synergies from the acquired assets within three to four years of the deal closure."

Jiangsu Kangzhong Shiye Investment has completed a series B+ funding round to raise $50m.

Based in China, the company operates a retail chain named Carzone that deals in and retails automotive post-market parts.

The funding was provided by CICC Alpha, Co-Stone Capital and another investor, all based in China.

US-based pharmacy store chain Walgreens Boots Alliance has reached an agreement with Rite Aid to acquire 2,186 stores from the latter.

The $5.175bn agreement comes after earlier takeover plans of Rite Aid were abandoned.

Walgreens Boots Alliance expects to realise $400m in synergies from the acquired assets within three to four years of the deal closure.