World Fuel Services to acquire selected assets of Texor Petroleum
31 Mar 2008
The purchase price will be principally funded through the company’s $475 million bank credit facility. The transaction, which is expected to be $0.08 to $0.10 accretive to earnings in the first 12 months, is subject to customary closing conditions and is expected to be completed within the next 60 days.
Paul Stebbins, chairman and CEO of World Fuel Services, said: “This acquisition enables us to immediately enhance our position in the 180 billion gallon ground based fuel market and we are very pleased to welcome the Texor team to World Fuel.”