Walgreens Boots Alliance Sells Shares of Cencora For $992 Million of Proceeds
Walgreens Boots Alliance (WBA) has sold shares of Cencora, Inc. (COR) for $992 million, with $942 million sold pursuant to Rule 144 and a concurrent share repurchase by Cencora of approximately $50 million. The proceeds will be used for debt paydown and general corporate purposes, with no impact on the ongoing collaboration and long-term strategic partnership between the two companies.
02/07/2024 - 06:16 PM
Transaction Highlights
Walgreens Boots Alliance announces sale of shares of Cencora, Inc. for proceeds of $992 million
Approximately $942 million sold pursuant to Rule 144 along with a concurrent share repurchase by Cencora of approximately $50 million
Proceeds to Walgreens Boots Alliance will be used primarily for debt paydown and general corporate purposes
No change to ongoing collaboration and long-term strategic partnership
DEERFIELD, Ill. --(BUSINESS WIRE)--
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced that it has sold shares of Cencora, Inc. (NYSE: COR) common stock pursuant to Rule 144 for proceeds of approximately $942 million and, subject to the completion of the Rule 144 sale, a concurrent share repurchase by Cencora in the amount of approximately $50 million .
Walgreens Boots Alliance’s ownership of Cencora’s common stock has decreased from approximately 15 percent to approximately 13 percent.
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.
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities.
A trusted, global innovator in retail pharmacy with approximately 12,500 locations across the U.S. , Europe and Latin America , WBA plays a critical role in the healthcare ecosystem. The Company is reimagining local healthcare and well-being for all as part of its purpose – to create more joyful lives through better health. Through dispensing medicines, improving access to a wide range of health services, providing high quality health and beauty products and offering anytime, anywhere convenience across its digital platforms, WBA is shaping the future of healthcare.
WBA employs more than 330,000 people and has a presence in eight countries through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company and Benavides in Mexico . Additionally, WBA has a portfolio of healthcare-focused investments located in several countries, including China and the U.S.
The Company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. WBA has been recognized for its commitment to operating sustainably: the Company is an index component of the Dow Jones Sustainability Indices (DJSI) and was named to the 100 Best Corporate Citizens 2022.
More Company information is available at www.walgreensbootsalliance.com .
(WBA-GEN)
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WBA Media Relations
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Source: Walgreens Boots Alliance
What is the ticker symbol for Walgreens Boots Alliance?
The ticker symbol for Walgreens Boots Alliance is WBA.
How much money did Walgreens Boots Alliance receive from the sale of shares of Cencora, Inc.?
Walgreens Boots Alliance received $992 million from the sale of shares of Cencora, Inc.
What is the purpose of the proceeds from the sale?
The proceeds will be used primarily for debt paydown and general corporate purposes.
What is the impact of the sale on Walgreens Boots Alliance's ownership of Cencora's common stock?
Walgreens Boots Alliance's ownership of Cencora's common stock has decreased from approximately 15 percent to approximately 13 percent.
Will the sale have any impact on the long-term partnership between Walgreens Boots Alliance and Cencora?
The sale has no impact on the long-term partnership between the two companies.
Walgreens Boots Alliance Inc
NASDAQ:WBA
WBA Rankings
#4418 Ranked by Stock Gains
WBA Stock Data
Industry
Pharmacies and Drug Stores
Sector
Retail Trade
Tags
Retail Trade, Drugstore Chains, Pharmacies and Drug Stores
Country
United States
City
Deerfield
About WBA
walgreens boots alliance is the first global pharmacy-led, health and wellbeing enterprise. the company was created through the combination of walgreens and alliance boots in december 2014, bringing together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted health care services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years. the company employs more than 370,000* people and has a presence in more than 25* countries; it is the largest retail pharmacy, health and daily living destination in the usa and europe. including its equity method investments, walgreens boots alliance is a global leader in pharmacy-led, health and wellbeing retail with over 13,100* stores in 11* countries. the company includes one of the largest global pharmaceutical wholesale and distribution networks with over 350* distribution centers delivering to more than 200,000** pharmacies, doctors, he