Walgreens Boots Alliance Sells Shares of Cencora For $992 Million of Proceeds

Rhea-AI Summary

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.

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)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240207729213/en/

WBA Media Relations

USA / Jim Cohn, +1 224 813 9057

International, +44 (0)20 7980 8585



WBA Investor Relations

Tiffany Kanaga, +1 847 315 2922

Source: Walgreens Boots Alliance

FAQ

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.