WASHINGTON (dpa-AFX) - Walgreens Boots Alliance Inc. (WBA) said that it has sold shares of Cencora Inc. (COR) pursuant to a share repurchase by Cencora in the amount of about $400 million. Consequently, Walgreens Boots Alliance's ownership stake in Cencora's common stock has decreased from about 13 percent to about 12 percent.
Walgreens Boots Alliance said it will use the proceeds from the sale primarily for debt paydown and general corporate purposes.
Walgreens noted that the sale has no impact to the long-term partnership between the two companies. 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.
In February 2024, Walgreens Boots Alliance said it sold shares of Cencora common stock for proceeds of about $942 million. Walgreens Boots Alliance's ownership of Cencora's common stock decreased from about 15 percent to about 13 percent.
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