Walgreens to use AmerisourceBergen share sale to repay debt

Chicago, Dec. 8 – Walgreens Boots Alliance, Inc. announced that it sold $1 billion of shares in AmerisourceBergen Corp., according to a press release.

This reduces Walgreen’s ownership of AmerisourceBergen’s common stock to approximately 17% from 20%.

The $1 billion of proceeds came from an $800 million Rule 144A offering and a $200 million share repurchase by AmerisourceBergen.

Proceeds will be primarily used for debt paydown, Walgreens said, and to fund the company’s strategic priorities, including the definitive agreement for VillageMD to acquire Summit Health-CityMD.

Walgreens is a Deerfield, Ill.-based drugstore chain.

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