Rite Aid (Camp Hill, Pa.) has completed the transfer of its 1932 stores to Walgreens Boots Alliance (Deerfield, Ill.), as a part of the deal the two companies reached in September.
In exchange for these stores and related assets, Walgreens has paid Rite Aid $4.157 billion. Rite Aid will also transfer three distribution centers and their related inventory to Walgreens, a process which is expected to begin after September 1, 2018, according to a press release.
Rite Aid also announced that its Board of Directors has terminated the tax benefits preservation plan that it adopted earlier this year to protect approximately $2.2 billion of the company’s net operating losses.