The parent company of pharmacy chain Boots is to explore a sale of the business next year, according to reports.
It is believed the firm could be valued at more than €5.85bn.
Sky News reports that Walgreens Boots Alliance (WBA) is lining up Goldman Sachs to advise it on a review of options that could result in new owners.
Sources say the process would be exploratory, and might not ultimately lead to WBA selling Boots.
Spinning the chain off into a separately listed company could also be a possibility, they added.
Boots Ireland, which was established in 1996, has 89 stores here and just over 2,000 employees.
While Boots operates a network of 2,200 stores in Britain - both are part of the Walgreens Boots Alliance.
There has been growing speculation in recent months that Illinois-based WBA might contemplate a sale of its retail business - following the disposal of its European distribution arm, Alliance Healthcare, earlier this year.
In 2012, Walgreens acquired a 45% stake in Alliance Boots, completing its buyout of the business two years later.
In a statement issued on Friday, the company said: "Walgreens Boots Alliance (WBA) does not comment on market speculation and Boots is an important part of the group.
"However, it is accurate that WBA announced a renewed set of priorities and strategic direction for the group in October, which includes a more pointed focus on North America and on healthcare.
"As underlined during the last WBA investor conference, the group continues to be very pleased with the performance of Boots and the international division as a whole."
Additional reporting: IRN
