Hilton Grand Vacations (HGV) said Friday that it has signed an accelerated share buyback agreement with Deutsche Bank's London Branch for $200 million under its existing repurchase authorizations.
The company said that it currently has $17 million remaining under its 2025 repurchase plan, and $600 million remaining under its 2026 plan.
Under the terms of the agreement, Hilton Grand Vacations will pay the repurchase price and receive shares with an aggregate value of 80% based on the stock's Oct. 29 closing price. The company said this represents 4.48 million shares based on the Oct. 29 closing price of $35.71.
It also said the final settlement of the agreement is expected to be completed by Dec. 31.
Hilton Grand said that after the agreement is completed, which it expects will take place by the end of the year, it will have $417 million remaining under the share repurchase authorization.
Shares of Hilton Grand were up more than 2% in recent Thursday premarket activity.
