Walgreens Boots Alliance Cuts Stake In AmerisourceBergen Via $1B Stock Sale

Walgreens Boots Alliance Inc (NASDAQ:WBA) has sold shares of AmerisourceBergen Corp (NYSE:ABC) for proceeds of approximately $1.0 billion.
Approximately $0.8 billion worth of shares have been sold pursuant to Rule 144, along with a concurrent share repurchase by AmerisourceBergen of approximately $0.2 billion.
Through the arrangement, Walgreens' ownership of AmerisourceBergen shares has decreased from 20% to 17%.
Proceeds to Walgreens Boots Alliance will be used primarily for debt paydown and the funding of VillageMD's acquisition of Summit Health-CityMD.
Chief Operating Officer, International of Walgreens Boots Alliance, Ornella Barra, will continue to serve on AmerisourceBergen's Board of Directors.
Walgreens Boots Alliance remains fully committed to the strategic, mutually beneficial relationship with AmerisourceBergen, which has been a partner since 2013.
Also Read: AmerisourceBergen Q4 Earnings Surpass Expectations, Raises Quarterly Dividend By 5%
Price Action: WBA shares closed higher by 0.62% at $40.90 on Thursday.
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