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Advance Auto Parts ( (AAP) ) has provided an announcement.
Advance Auto Parts, Inc. has completed the sale of its Worldpac Inc. business to the Carlyle Group for $1.5 billion, marking a significant step in streamlining its operations. The proceeds, estimated at $1.2 billion after taxes, will be used to bolster its core business and address strategic priorities. This move is expected to enhance the company’s financial stability and focus on its blended-box business model. Advance Auto Parts plans to provide further updates during its upcoming earnings call on November 14, 2024.
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