logo
logo

World Fuel Services Corporation To Acquire Flyers Energy Group

World Fuel Services Corporation To Acquire Flyers Energy Group

10/28/21, 8:20 PM
Industry
sustainability
World Fuel Services Corporation (NYSE: INT) today announced that a wholly-owned subsidiary of the company has signed a definitive agreement to acquire Flyers Energy Group (“Flyers”) from the Dwelle family, who have been engaged in the petroleum marketing industry for more than 40 years. The total purchase price for the acquisition will be approximately $775 million, of which $675 million will be paid at closing, consisting of cash and at the company’s option, up to $50 million of World Fuel Services common stock. The remaining $100 million will be paid in equal installments over the two years following completion of the transaction. The transaction will be principally funded with cash-on-hand with the balance drawn from the company’s revolving credit facility.

Company Info

Company
World Fuel Services Corporation
Company info
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide. For more information, call 305-428-8000 or visit www.wfscorp.com.