10:59 AM EST, 11/04/2024 (MT Newswires) -- Advance Auto Parts ( AAP ) said Monday it has completed the previously announced $1.5 billion sale of Worldpac, its automotive parts wholesale distribution business, to Carlyle Group ( CG ) .

Net proceeds from the sale are expected to be roughly $1.2 billion, the company added.

Shares of Advance Auto Parts ( AAP ) rose nearly 6% in recent trading, while Carlyle was marginally higher.

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