Walgreen Co. (NYSE: WAG) announced Wednesday that the drugstore operator signed a 10-year contract with Genpact (NYSE: G) for accounting services, according to Associated Press.
The financial terms of the deal were not disclosed.
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Under the deal, Genpact, a former unit of General Electric (NYSE: GE), will perform accounting services for Walgreens and has agreed to buy Walgreens’ facility in Danville, IL.
In addition, approximately 500 employees at the facility will become Genpact employees within the next four months, while the remainder will remain with Walgreens.
Shares of Walgreens fell 28 cents to $36.72 to close on Wednesday. Genpact shares rose 23 cents to $15.30.
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