Walgreens sells shares of Cencora for roughly $1.1B of proceeds

Walgreens Boots Alliance, Inc. (WBA) announced that it has sold all of its remaining unencumbered shares of Cencora, Inc. (COR) common stock pursuant to Rule 144 for proceeds of $818M and, subject to the completion of the Rule 144 sale, a concurrent share repurchase by Cencora in the amount of $250M. Walgreens Boots Alliance’s ownership of Cencora’s common stock has decreased from approximately 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 to the long-term partnership between the two companies. Walgreens Boots Alliance 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.