Under New CEO Wentworth, Walgreens Continues To Sell Off Distributor Stake

Walgreens Boots Alliance has sold more shares of drug distributor Cencora, formerly AmerisourceBergen, for proceeds of $674 million, which will be used for “debt paydown and general corporate purposes.”

The stock sale, which comes less than a month after former Express Scripts top executive Tim Wentworth became chief executive officer of Walgreens, brings the drugstore chain’s stake in Cencora down to 15% though Walgreens remains the drug distributor’s largest shareholder.