Asbury Automotive Group, Inc. announces an Equity Buyback for $250 million worth of its shares.
May 26, 2023 at 11:50 am
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Asbury Automotive Group, Inc. (NYSE:ABG) announces a share repurchase program. Under the program, the company will repurchase up to $250 million worth of its shares.
Asbury Automotive Group, Inc. is an automotive retailer company. The Company operates through two segments: Dealerships and Total Care Auto (TCA). The Company offers a range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services, and finance and insurance (F&I) products, which includes arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) debt cancellation and prepaid maintenance. The Company operates approximately 160 new vehicle dealerships, consisting of 208 franchises, representing 31 domestic and foreign brands of vehicles. Its TCA, powered by Landcar, is a provider of service contracts and other vehicle protection products, and 37 collision repair centers.
ASBURY AUTOMOTIVE GROUP, INC. 
