NYSE:ABGSpecialty Retail
Is Asbury’s US$500 Million Buyback And Dealership Sales Reshaping The Investment Case For ABG?
Asbury Automotive Group recently completed the sale of ten dealerships, generating about US$210 million in net proceeds and expanding its authorized share repurchase program to US$500 million, while also exiting a Chrysler Dodge Jeep Ram store that was acquired and rebranded as Indy CDJR by Matt Bowers.
Together, these moves highlight Asbury’s ongoing portfolio reshaping and its preference to return capital to shareholders rather than reinvest all proceeds into owned dealership...