Constellation brands announces accelerated stock buyback

Victor, n.y., april 07, 2022 (globe newswire) -- constellation brands, inc. (nyse: stz and stz.b), a leading beverage alcohol company, announced today that it has entered into an accelerated share repurchase (“asr”) agreement with bank of america, n.a. to repurchase $500.0 million of its class a common stock (“common stock”). under the asr agreement, constellation will receive approximately 1.7 million shares on april 8, 2022, representing approximately 80% of the expected share repurchases under the asr agreement, based on the company's april 6, 2022 closing stock price of $231.81. the repurchased shares will become treasury shares.
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