05:01 AM EDT, 08/02/2024 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) said late Thursday it sold all its remaining unencumbered shares of Cencora ( COR ) for proceeds of about $1.1 billion.

The company said the sale includes $818 million of shares sold under Rule 144 and a concurrent $250 million share repurchase by Cencora ( COR ).

The move reduces Walgreens' ownership of Cencora's ( COR ) common stock from about 12% to 10%, the company said.

Walgreens said the proceeds will be used for debt reduction and general corporate purposes. The company added that the sale will not affect the long-term partnership it has with Cencora ( COR ).

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