FLEETCOR Divests All Of Its Operations In Russia; Announces Launch Of $450 Mln ASR To Buyback Stock

(RTTNews) - 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.