Stellar profit for Alliance Santé Participations, the Luxembourg holding company of Stefano Pessina, the number one of the pharmacy giant Walgreens Boots Alliance. As indicated by the 'abbreviated balance sheet' filed in the Grand Duchy, in 2015 Asp recorded a net profit of 4 billion euros against 48,7 million the previous year. The new earnings add to previous profits carried forward of $2,5 billion, bringing the total to $6,5 billion.
The increase in profit in 2015 takes place against a doubling of the value of ASP assets to 7,4 billion from 3,7 billion in 2014, while debt rises to 834 million from 331 million in 2014. The documentation limits to the balance sheet of the holding company and does not provide explanations. The ASP is the first shareholder of Walgreens Boots Alliance, with a 13,03% stake, which at current stock prices is worth about 11,3 billion dollars.
The stake (141 million shares) comes from the transaction that led the American Walgreens to acquire the European Alliance Boots, which had been owned by Pessina and Kkr since 2007 after an 11 billion pound 'buy out'. To acquire Alliance Boots, Walgreens paid a total of $2012 billion in cash and 2014 million shares between 9,3 and 227,7.
