Walgreens Boots Alliance sells shares of Cencora for $992M of proceeds

Walgreens Boots Alliance sold shares of Cencora common stock under Rule 144 for proceeds of approximately $942 million and, subject to the completion of the Rule 144 sale, a concurrent share repurchase by Cencora for approximately $50 million.

The company’s ownership of Cencora’s common stock has decreased from approximately 15% to approximately 13%.

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 company said.

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The sale has no impact on the long-term partnership between the two companies. Walgreens Boots Alliance said it remains fully committed to the strategic, mutually beneficial relationship with Cencora, which has been a strong and trusted partner since 2013. Chief operating officer, international of Walgreens Boots Alliance, Ornella Barra, will continue to serve on Cencora’s board of directors.