WASHINGTON (dpa-AFX) - Corpay Inc. (CPAY) announced it will divest one of its legacy lower growth private label fuel card portfolios.
Corpay expects to receive about $60 million in proceeds from the divestiture and free up approximately $35 million of working capital. Corpay plans to redeploy the capital towards its acquisition of Alpha Group International plc.
The transaction is expected to close in the fourth quarter of 2025 and represents an immaterial contribution to earnings.
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