Walgreens Boots Alliance sells Cencora shares for $1.1B

Walgreens Boots Alliance has sold all of its remaining shares of Cencora common stock of $818 million, which is subject to a concurrent share repurchase by Cencora for $250 million.

As a result, the company’s ownership of Cencora’s common stock has decreased from 12% to approximately 10%. 

Proceeds to Walgreens Boots Alliance will be used primarily for debt paydown and general corporate purposes, as the company continues to build out a more capital-efficient health services strategy rooted in its retail pharmacy footprint.

The sale has no impact on the long-term partnership between the two companies. Walgreens Boots Alliance remains fully committed to the strategic, mutually beneficial relationship with Cencora, both organizations noted in a statement.