Corpay divesting legacy private label fuel card portfolio

Corpay (CPAY) announced it is divesting one of its legacy lower growth private label fuel card portfolios. Corpay expects to receive approximately $60M in proceeds from the divestiture and free up approximately $35M 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. “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.