M&As this week: Danish Agro, Lookers, Walgreens Boots Alliance

13 July 2018 (Last Updated July 27th, 2018 06:55)

Danish Agro Group has agreed to acquire the remaining 55% shareholding in Konekesko Ltd’s Baltic subsidiaries and its agricultural machinery trade operations in Finland.

Danish Agro Group has agreed to acquire the remaining 55% shareholding in Konekesko Ltd’s Baltic subsidiaries and its agricultural machinery trade operations in Finland.

The deal enables Danish Agro to acquire three machinery firms AS Konekesko Eesti, SIA Konekesko Latvija and UAB Konekesko Lietuva.

Danish Agro amba’s group company DAVA Agravis Machinery Holding A/S acquired 45% of Baltic subsidiaries’ shares in Konekesko in February 2017.

Scheduled for completion in October, the transaction will enable Konekesko to fortify its Northern Europe market position and increase profitability in all operating countries.

Lookers has completed the acquisition of Pollendine Motors for an undisclosed sum.

Lookers is a motor retail and aftersales service group in the UK, while Pollendine Motors is a Ford dealership in Essex.

The purchase enables Lookers to operate 11 Ford dealerships nationally, including six based in the south.

“The purchase enables Lookers to operate 11 Ford dealerships nationally, including six based in the south.”

Walgreens Boots Alliance has acquired a 40% stake in Sinopharm Holding GuoDa Drugstores (GuoDa) for $416m.

Walgreens Boots Alliance is a retail pharmacy, health and wellbeing firm based in the US, while GuoDa is a large national pharmacy chain located in China.

The agreement for the stake sale was signed with China National Accord Medicines, the parent company of GuoDa, in December 2017.

Future Lifestyle Fashions (FLFL) has agreed to acquire a 29.9% stake in Koovs.

FLFL is a fashion retail chain in India, while Koovs is an Indian e-commerce business engaged in fashion.

Koovs plans to secure £10m ($13.2m) through the equity financing, subject to shareholder approval.

FLFL will pay £5.78m ($7.64m) for the purchase of a 24.8% stake. Koovs Chairman will invest £1.5m ($1.98m) in the equity raise, whereas FLFL will increase its ownership to 29.9%, as part of the transaction.