Corpay Progresses Divestiture Program
Corpay expects to receive approximately $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.
'This transaction is consistent with our plan to remix our portfolio towards higher growth Corporate Payments assets. It demonstrates our discipline to seek contract renewals only when economic terms are attractive,' said Ron Clarke, Chairman and CEO of Corpay.
The transaction is expected to close in the fourth quarter of 2025 and represents an immaterial contribution to earnings.
About Corpay
Corpay (NYSE: CPAY), the Corporate Payments Company, is a global S&P 500 provider of commercial cards (e.g, business cards, fleet cards, virtual cards) and AP automation solutions (e.g., invoice and payments automation, cross border payments) to businesses worldwide. We help businesses buy things and pay for things. Our solutions 'keep business moving' and result in our customers better controlling purchases, mitigating fraud, and ultimately spending less. To learn more visit www.corpay.com.
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