McKesson Said in Talks to Sell Europe Arm to German Billionaires

June 23, 2021, 12:07 PM

McKesson Corp. is in talks to sell its European operations, including a sprawling drug distribution business and Britain’s Lloyds Pharmacy chain, in a move that would reverse its $8.3 billion purchase of Celesio AG in 2014, people with knowledge of the matter said.

The U.S. company is negotiating a sale of its continental European unit to the billionaire Merckle family’s Phoenix Group, the largest German pharmaceutical wholesaler, the people said. It is also in discussions to offload its U.K. arm, which includes Lloyds Pharmacy and distributor AAH Pharmaceuticals, to a private equity firm, the people said, asking not ...

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