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Walgreens further reduces shareholding in Cencora.
The largest American pharmacy chain operator, Walgreens, announced on Thursday that it has further reduced its shareholding in the pharmaceutical distributor Cencora, raising about $1.1 billion. The company said Walgreens' stake in Cencora has been reduced from around 12% to around 10%. The two companies stated that Walgreens sold Cencora stocks worth $0.818 billion on the open market, while Cencora repurchased stocks worth $0.25 billion from Walgreens. The proceeds from the stock sale will be used primarily to repay debt and for general corporate purposes, and Walgreens will continue to operate as a retail pharmacy.
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