Walgreens Boots Alliance Sells AmerisourceBergen's Shares For Initial Proceeds Of $694 Mln

(RTTNews) - Walgreens Boots Alliance Inc. (WBA) said that it has sold shares of AmerisourceBergen Corp. (ABC) common stock for current proceeds of about $644 million.

In addition, AmerisourceBergen has agreed to repurchase shares of its common stock from Walgreens Boots Alliance in the amount of about $50 million.

Walgreens Boots Alliance's ownership of AmerisourceBergen's common stock has decreased as a result of the concurrent share repurchase by AmerisourceBergen but remains at approximately 17%.

Walgreens said it will use proceeds from the transactions for debt paydown and general corporate purposes.