Walgreens Boots Alliance sells $1bn worth shares of AmerisourceBergen

Walgreens Boots Alliance said that it has divested shares of AmerisourceBergen, an American drug wholesale company, for a price of around $800 million followed by a concurrent share repurchase by the latter for proceeds of nearly $200 million.

According to the healthcare, pharmacy, and retail company, its stake in AmerisourceBergen has come down from around 20% to nearly 17%.

Walgreens Boots Alliance said that the sale has no effect on its long-term partnership with AmerisourceBergen.

Walgreens Boots Alliance sells $1bn worth shares of AmerisourceBergen. Photo courtesy of Ambrosia LaFluer/Wikimedia Commons.

The pharmacy chain owner said that it will continue to be committed fully to the strategic, mutually beneficial relationship with AmerisourceBergen, which has been its partner since 2013.

Walgreens Boots Alliance said that the proceeds from the sale of AmerisourceBergen shares will be mainly used for paydown of its debt. They will also be used for funding its strategic priorities, including financing VillageMD’s $8.9 billion acquisition of Summit Health-CityMD.