04:33 AM EST, 02/07/2025 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) said late Thursday it has decreased its stake in Cencora ( COR ) to about 6% from 10% following a series of transactions.

Walgreens sold Cencora ( COR ) common shares in an unregistered block trade for proceeds of about $265 million, and sold more shares in a repurchase by Cencora ( COR ) for additional proceeds of $50 million, the company said.

The sales were concurrent with the early settlements of certain prepaid variable share forward transactions, under which Walgreens previously received cash payments of about $1.1 billion. The transactions were scheduled to mature in March and June of 2026.

Walgreens received about $300 million from the early settlement and the concurrent share sale, it said. The company "owns approximately 12.6 million shares of Cencora ( COR ) pledged under the remaining prepaid variable share forward contracts."

Proceeds will primarily be used to pay down debts and for general corporate purposes, the company said.