Reliance in talks to raise up to $8B for Walgreens Boots deal
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India-based conglomerate, Reliance announced that it plans to integrate Walgreens Boots (NASDAQ:WBA) assets with Reliance Retail and bring the combined entity under Reliance Retail Ventures through a leveraged buyout.
Reliance Industries is seeking to raise $8B from a cluster of global banks - Barclays, Deutsche Bank, HSBC and Standard Chartered Bank - for the buyout, Bloomberg reported citing sources closes to the matter and a Mint report.

In early June, Apollo and Reliance had announced a bid for Walgreens Boots valuing the latter at more than $6.1B.
The Walgreens Boots board is likely to meet in the upcoming few days to discuss the potential deal with the consortium, and post that the Reliance board will meet to approve the proposed takeover.
It was known earlier that Walgreens has been a seeking a valuation of ~$8.6B for Boots which runs a network of 2.2K+ stores across the U.K.