DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) said today that it has sold about $400 million worth of shares in Cencora, reducing its stake in the drug wholesaler formerly known as AmerisourceBergen.
With the transaction, Walgreens Boots Alliance’s ownership of Cencora’s common stock has decreased from approximately 13 percent to approximately 12 percent.
Walgreens Boots Alliance said it will use the proceeds from the sale mainly for debt paydown and general corporate purposes. The company says it continues to build out a more capital-efficient health services strategy rooted in its retail pharmacy footprint to deliver care for communities and create value for partners.
The sale has no impact on the long-term partnership between the two companies, according to Walgreens Boots Alliance, which said it remains fully committed to its strategic, mutually beneficial relationship with Cencora, which has been a strong and trusted partner since 2013. Ornella Barra, Walgreens Boots Alliance chief operating officer, international, will continue to serve on Cencora’s Board of Directors.
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