FLEETCOR Exits Russia
15 Agosto 2023 - 9:30AM
Business Wire
Launches $450 Million Accelerated Share
Repurchase
FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global
business payments company, today announced the sale of its Russia
business to a local investment group. The transaction divests all
of FLEETCOR’s operations in Russia.
“We concluded the sale of our Russia business this week and are
now completely out of the market. We are also announcing the launch
of a $450 million ASR to buyback FLEETCOR stock,” said Ron Clarke,
Chairman and CEO of FLEETCOR Technologies, Inc.
The company also announced that it has entered into an
Accelerated Share Repurchase (“ASR”) program with Bank of America,
N.A. to repurchase shares of common stock under its current share
repurchase authorization. Approximately 80 percent of the shares
expected to be repurchased under the transaction will be received
by FLEETCOR on August 21, 2023. The total number of shares
ultimately repurchased under the program will be determined upon
final settlement and will be based on a discount to the
volume-weighted average price of FLEETCOR’s common stock during the
ASR period. FLEETCOR anticipates that all repurchases under the ASR
will be completed by the end of the third quarter of 2023.
Terms of the sale were not disclosed.
About FLEETCOR® FLEETCOR Technologies (NYSE: FLT) is a
leading global business payments company that helps businesses
spend less by providing innovative solutions that control
expense-related purchasing and payment processes. The FLEETCOR
portfolio of brands automate, secure, digitize and manage payment
transactions on behalf of businesses across more than 100 countries
in North America, Latin America, Europe, and Asia Pacific. For more
information, please visit www.FLEETCOR.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230815809320/en/
Investor Relations Jim Eglseder, 770-417-4697
Jim.Eglseder@fleetcor.com
Media Relations Chad Corley, 770-729-5021
Chad.corley@fleetcor.com
FleetCor Technologies (NYSE:FLT)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
FleetCor Technologies (NYSE:FLT)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024