Walgreens Sells $1.85 Billion of Its AmerisourceBergen Shares, Cutting Ownership to Roughly 16%

Walgreens Boots Alliance has sold some AmerisourceBergen Corp’s shares for proceeds of about $1.85 billion, the U.S. drugstore chain said on Thursday, further cutting its ownership in the drug distributor to about 16%.

Walgreens said in a statement it would use the proceeds to pay down debt and for general corporate purposes.

The latest share sale includes $250 million that drug distributor AmerisourceBergen will buy back from Walgreens under its share repurchase program, Walgreens added.

Read the source article at Yahoo