FX.co ★ Walgreens Boots Alliance Sells Cencora Shares For $400 Mln

Walgreens Boots Alliance Inc. (WBA) has announced the sale of shares in Cencora Inc. (COR) as part of a share repurchase scheme by Cencora valued at approximately $400 million. This transaction has resulted in Walgreens Boots Alliance's ownership stake in Cencora's common stock decreasing from around 13% to approximately 12%.

The proceeds from the sale will be primarily allocated towards debt reduction and general corporate purposes, according to Walgreens Boots Alliance.

The company emphasized that this sale does not affect the long-term partnership between Walgreens Boots Alliance and Cencora. Walgreens remains fully committed to its strategic and mutually beneficial relationship with Cencora, a partnership that has been strong and trusted since 2013. Notably, Ornella Barra, Chief Operating Officer for International at Walgreens Boots Alliance, will continue her role on Cencora's Board of Directors.

Earlier in February 2024, Walgreens Boots Alliance had sold shares of Cencora common stock, garnering proceeds of about $942 million. This earlier transaction reduced Walgreens Boots Alliance's ownership in Cencora from approximately 15% to about 13%.