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Alliance Boots and Walgreens have announced that they will merge at the beginning of 2015, creating a new company called Walgreens Boots Alliance. The two companies formed a 'strategic partnership' in 2012 when Walgreens bought a 45 per cent stake in Alliance Boots for $6.7 billion, with the option to purchase the remaining 55 per cent over the next three years, which the American pharmacy group has now confirmed it will do. Once the deal is sealed, Walgreens Boots Alliance will own more than 11,000 pharmacies in 10 countries and will have the largest pharmaceutical wholesale and distribution network in the world.

€The expected creation of the new enterprise will represent the most significant milestone in the history of our Group,€ said Stefano Pessina, executive chairman of Alliance Boots.