06:11 AM EDT, 05/23/2024 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) said Wednesday it has sold shares of Cencora ( COR ) worth about $400 million under a share repurchase by the latter.

As a result, Walgreens' ownership of Cencora's ( COR ) common stock has decreased to 12% from about 13%.

The company said it plans to use the proceeds primarily for debt paydown and general corporate purposes.

Separately, Cencora ( COR ) raised its fiscal 2024 adjusted EPS guidance to be between $13.35 and $13.55 from the prior guidance of between $13.30 and $13.50, to reflect a lower weighted average diluted share count, partially offset by higher net interest expense due to lower investment balances. Analysts polled by Capital IQ expect normalized EPS of $13.45 for the fiscal year.