Walgreens Boots Alliance Inc. (WBA) said that it has sold shares of AmerisourceBergen Corp. (ABC) common stock for current proceeds of about $644 million.
In addition, AmerisourceBergen has agreed to repurchase shares of its common stock from Walgreens Boots Alliance in the amount of about $50 million.
Walgreens Boots Alliance's ownership of AmerisourceBergen's common stock has decreased as a result of the concurrent share repurchase by AmerisourceBergen but remains at approximately 17%.
Walgreens said it will use proceeds from the transactions for debt paydown and general corporate purposes.
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