Walgreens Boots Alliance Sells Cencora Shares For $992 Mln

(RTTNews) - Walgreens Boots Alliance Inc. (WBA) announced that it has sold shares of Cencora Inc. (COR) common stock for proceeds of about $942 million and, subject to the completion of the sale, a concurrent share repurchase by Cencora in the amount of about $50 million.

Walgreens Boots Alliance's ownership of Cencora's common stock has decreased from approximately 15 percent to approximately 13 percent.

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

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.