Quanta Services Inc., an infrastructure solutions provider for oil, natural gas and electric power companies, completed its repurchase of $750 million of common shares under an accelerated stock repurchase (ASR) arrangement, the company said April 13.
JPMorgan Chase Bank NA was involved in the ASR arrangement, under which Quanta received about 25.7 million common shares in August 2015 and an additional 9.4 million shares on April 12, 2016.
The ASR arrangement enabled repurchases under the $1.25 billion stock repurchase program.
In all, 35.1 million shares priced at $21.36 each were retired.
Quanta Services is based in Houston.
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