KKR & Co. (KKR) Nets Notable Gains from Walgreen, Alliance Boots Deal

On Wednesday morning, KKR (NYSE: KKR) announced the sale of its remaining stake in Alliance Boots to Walgreens Boots Alliance, Inc., the new holding company of Walgreen & Co., following the exercise by Walgreens of the call option to acquire the remaining 55 percent of Alliance Boots as the second step of the overall transaction.

The WSJ noted on Friday that KKR will earn a tidy sum on the deal. The sale will net KKR about £4.7 billion of cash and stock, compared to the firm's £1.2 billion investment made by it and other investors in 2007, when the group took Alliance Boots private.

KKR's big payout comes as the firm agreed to take a good portion of stock in the deal, which was a two-parter announced in 2012.

Shares of Walgreen (NYSE: WBA)(NYSE: WAG) had soared since the deal was announced, despite announcing a $1.1 billion forecasting error in 2014 that shook-up the retailer's management team.

Shares of KKR are up in early trading Friday.

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