Move does not affect partnership, company says
DEERFIELD, Ill.– Walgreens Boots Alliance, Inc. (WBA) has sold 6.0 million shares of AmerisourceBergen Corp. common stock pursuant to Rule 144 at a price of $150 per share.
After the sale, Walgreens Boots Alliance’s ownership of AmerisourceBergen’s common stock decreased from approximately 28.1% to approximately 25.2%.
The sale has no impact on the long-term partnership between the two companies, according to the company, which said that WBA “remains fully committed to the strategic, mutually beneficial relationship with AmerisourceBergen, 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 AmerisourceBergen’s Board of Directors.
Proceeds to Walgreens Boots Alliance are expected to be approximately $900 million, which the company intends to use primarily for debt paydown and the continued support of its strategic priorities.
Chief Executive Officer Rosalind Brewer said: “Walgreens Boots Alliance and AmerisourceBergen will continue our very productive collaboration, creating significant value for both companies. We’ve taken the opportunity to monetize holdings at this time to realize a strong return on our investment, while complementing our other actions to optimize our capital allocation. Today’s action enhances our balance sheet and is consistent with our efforts to generate value for our shareholders.”