GPI - Group 1 Automotive disposes of Brazil operations

• Group 1 Automotive ( NYSE: GPI ) said on Monday that its wholly-owned subsidiary GPI SA, LLC  has closed on the disposition of its Brazil operations, under the share purchase pact with Original Holdings S.A., and with UAB Motors Participações Ltda., a wholly-owned subsidiary of Group 1, as an intervening party.
• Per the terms, Original acquired 100% of the issued and outstanding equity interests of UAB from the company for BRL 510 million in cash.
• The company also updated its year-to-date share repurchase activity of 1,437,729 shares of common stock at an average price of $176.74 for a total of $254.1 million, which represents 8.3% of Group 1's outstanding share count at January 1, 2022.
• The company expects that any repurchase of shares will be funded by cash from operations.

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