FLEETCOR sells Russia business, launches $450M accelerated share repurchase

CORPAY, INC.

Sale of all Russia operations to a local investment group; financial terms not disclosed.
Entered $450M ASR with Bank of America to repurchase common stock under existing authorization.
Approximately 80% of ASR shares to be received on August 21, 2023.
Final repurchase amount based on discount to VWAP during ASR period; completion by end of Q3 2023.
CEO Ron Clarke stated the company is now completely out of the Russian market.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.