Boots now intends to return to shareholders the net proceeds of the sale through a share buy back programme. This is in addition to the £300 million buy back programme initiated in March 2002 and nearing completion.
Boots completes sale of Halfords
The EU cleared the CVC acquisation of Halfords last week.
Boots chief executive, Steve Russell said: "I believe the sale of Halfords has been a good deal for our shareholders. It has allowed us to return cash as we continue to refocus Boots, building on our core strengths in health and beauty."
All Reynolds inventory is now moved from Salt Lake City, UT and has been shipping to retailers across the USA since January and across Europe since March