Forbes May 22, 2024
Walgreens Boots Alliance has sold more shares of drug distributor Cencora for proceeds of about $400 million, which will be used for “debt paydown and general corporate purposes.”
The stock sale, which comes as chief executive officer Tim Wentworth works on a financial turnaround of the iconic drugstore chain, brings Walgreens stake in Cencora down to 12% from 13%.
“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, to deliver care for communities and create value for partners,” Walgreens said Wednesday evening in a press release.
Walgreens began reducing its stake in...
Today's Sponsors
Today's Sponsor