Walgreens Boots Alliance said June 2 it completed the sale of its wholesaling arm, Alliance Healthcare, to AmerisourceBergen for $6.5 billion.
Under the deal, which was announced in January, Walgreens will receive $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock. The company said it used some of the money to eliminate $3.3 billion in debt from its balance sheet. The rest of the sale's proceeds will go toward company growth and healthcare investments.
The companies said the transaction will allow AmerisourceBergen to provide more global support to pharmacies and drugmakers.