Business

WBA sells shares of AmerisourceBergen for $694 million

Posted May 14, 2023 11:00 pm

DEERFIELD - Walgreens Boots Alliance Inc. said it has sold shares of AmerisourceBergen Corp.'s common stock for about $644 million. In addition, WBA entered into a concurrent share repurchase by AmerisourceBergen for proceeds of approximately $50 million.

WBA's ownership of AmerisourceBergen's common stock has decreased as a result of the concurrent share repurchase by AmerisourceBergen, but remains at approximately 17%.

Proceeds to WBA will be used primarily for debt paydown and general corporate purposes, the company said.

The sale has no impact on the long-term partnership between the two companies, WBA said in a news release, adding WBA remains fully committed to the strategic, mutually beneficial relationship with AmerisourceBergen, which has been a strong and trusted partner since 2013. Ornella Barra, chief operating officer, International, of Walgreens Boots Alliance, will continue to serve on AmerisourceBergen's board of directors.

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