Asbury Automotive Group, Inc.'s Equity Buyback in the amount of $89.88 mm has expired
January 01, 2013 at 05:00 am
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The Board of Directors of Asbury Automotive Group, Inc. (NYSE:ABG) authorized a share repurchase program on December 2, 2010. Under the plan, the company will repurchase up to $25 million worth of its shares. The purpose of the plan is to return capital to company's shareholders.
On July 26, 2011, the Board increased the remaining authorization to $45 million, thereby bringing the total authorization to $59.88 million.
On December 6, 2011, the Board increased the authorization by $30 million, thereby bringing the total authorization to $89.88 million.
Asbury Automotive Group, Inc.'s share repurchase program expired on January 1, 2013. Under the program, the company repurchased 3,391,867 shares for $67.68 million.
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. 
