Walgreens Boots Alliance today announced that it has sold 6 million shares of AmerisourceBergen 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 has decreased from approximately 28.1% to approximately 25.2%.
Walgreens Boots Alliance noted that the sale has no impact to the long-term partnership between the two companies, and that the company “remains fully committed to the strategic, mutually beneficial relationship with AmerisourceBergen, which has been a strong and trusted partner since 2013.”
Ornella Barra, chief operating officer, international of Walgreens Boots Alliance, 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.
“Walgreens Boots Alliance and AmerisourceBergen will continue our very productive collaboration, creating significant value for both companies,” said CEO Rosalind Brewer. “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.”