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AmerisourceBergen Agrees to Sell Canadian Distribution Business

Canadian operation was 2 percent of AmerisourceBergen's total sales.

AmerisourceBergen Corp. (NYSE: ABC), Valley Forge, PA, has agreed to sell its Canadian pharmaceutical distribution business, AmerisourceBergen Canada Corporation, to Kohl & Frisch Limited, a Canadian-owned national full-line distributor.

ABCC represented about 2 percent of AmerisourceBergen’s total revenues.

The transaction is expected to close in the third quarter of fiscal 2013.

The estimated sale price is expected to be between $80 million and $100 million, of which half will be financed by AmerisourceBergen.

As a result of the agreement, the company expects to record an estimated loss on sale and other impairment charges of between $160 million and $180 million when it reports its quarterly results for the March quarter of fiscal 2013.

AmerisourceBergen is a pharmaceutical services companies serving the U.S., Canada and selected global markets. With over $80 billion in annualized revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs 13,000 people.

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