Walgreens Boots Alliance Sells Shares of Cencora for Approximately $1.1 Billion of Proceeds

August 1, 2024
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Transaction Highlights

  • Walgreens Boots Alliance announces sale of all remaining unencumbered shares of Cencora, Inc. for proceeds of approximately $1.1 billion
  • $818 million sold pursuant to Rule 144 along with a concurrent share repurchase by Cencora of $250 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)--Aug. 1, 2024-- Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced that it has sold all of its remaining unencumbered shares of Cencora, Inc. (NYSE: COR) common stock pursuant to Rule 144 for proceeds of $818 million and, subject to the completion of the Rule 144 sale, a concurrent share repurchase by Cencora in the amount of $250 million.

Walgreens Boots Alliance’s ownership of Cencora’s common stock has decreased from approximately 12 percent to approximately 10 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)

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