HOUSTON -

The board of directors at Group 1 Automotive has given the green light for up to a $25 million repurchase of the retailer’s common stock.

Group 1 plans to use cash from operations to pay for the repurchase. There were 23.6 million shares of outstanding common stock as of June 30. The company will hold repurchased shares in treasury.

“Purchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations, in the open market or in privately negotiated transactions,” officials emphasized.

The company also noted that it finished its prior $25 million share repurchase program, which on June 30 had $3.5 million left.