As the Co-operative Group moves to reduce its £1.2bn capital deficit and focus on core business lines it has turned to longstanding advisers Allen & Overy (A&O) and Addleshaw Goddard to lead on the £620m sale of its pharmaceutical business to Bestway Group, advised by Hogan Lovells.
Addleshaw corporate finance partner Richard Thomas led the deal for the Co-op, supported by corporate partner Richard Fleetwood and associates Andy Green, Ryan Barber, Dean Cox. The Co-op is a longstanding client of Thomas, who is also a member of Addleshaw’s healthcare group and counts as clients Lloyds Pharmacy and Capita, which he advised on its acquisitions relate to its Medicals Direct Group.
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