BUZZ-Topgolf Callaway unveils debt repayment, share buyback program; shares surge

Reuters

01/05

** Shares of golf equipment maker Topgolf Callaway Brands MODG.N up 6.3%

** Co announces $1 billion debt repayment and $200 million stock buyback program

** Also completes sale of Topgolf unit to private equity firm Leonard Green & Partners, marking an end to partnership roughly five years after merger

** Co in November 2024 agreed to sell a majority stake in the Topgolf unit, valuing the business at $1.1 billion

** MODG stock rose 48.5% in 2025

(Reporting by Sanskriti Shekhar in Bengaluru )

((Sanskriti.Shekhar@thomsonreuters.com))

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