15.08.2023 14:44:47 - dpa-AFX: FLEETCOR Divests All Of Its Operations In Russia; Announces Launch Of $450 Mln ASR To Buyback Stock
WASHINGTON (dpa-AFX) - FLEETCOR Technologies, Inc. (FLT) announced the sale
of its Russia business to a local investment group. The company concluded the
sale this week and is now completely out of the market.
FLEETCOR Technologies has entered into an Accelerated Share Repurchase 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. FLEETCOR expects that all repurchases under the ASR will be
completed by the end of the third quarter of 2023.
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