Walgreens Boots Alliance, Inc. WBA plans to sell its remaining shares of Option Care Health, Inc. OPCH for $330 million.
The company will use proceeds raised from the deal to pay debts and fund its strategic priorities for healthcare transformation.
Earlier on March 1, Walgreens Boots sold 15.5 million shares held in Option Care Health at $30.75 per share to the public. After the sale deal in March, Walgreens Boots' ownership of Option Care Health's common stock had decreased from approximately 14% to 6%.
Following the latest development, Walgreens Boots owns no stake in Option Care Health.
The transaction is a "decisive action" Walgreens Boots is taking to simplify the company's portfolio.
In May, Walgreens Boots sold shares in AmerisourceBergen Corporation ABC for $694 million in initial proceeds.
The company is planning to release its third-quarter results on June 27.
Price Action: WBA shares are trading lower by 1.46% to $31.39 on the last check Friday.
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