Walgreens Boots Alliance (WBA) said late Thursday it has decreased its stake in Cencora (COR) to about 6% from 10% following a series of transactions.

Walgreens sold Cencora common shares in an unregistered block trade for proceeds of about $265 million, and sold more shares in a repurchase by Cencora for additional proceeds of $50 million, the company said.

The sales were concurrent with the early settlements of certain prepaid variable share forward transactions, under which Walgreens previously received cash payments of about $1.1 billion. The transactions were scheduled to mature in March and June of 2026.

Walgreens received about $300 million from the early settlement and the concurrent share sale, it said. The company "owns approximately 12.6 million shares of Cencora pledged under the remaining prepaid variable share forward contracts."

Proceeds will primarily be used to pay down debts and for general corporate purposes, the company said.