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January 2, 2013
08:02 EDTINTWorld Fuel Services completes acquisition of Multi Service assets
World Fuel Services has completed the previously announced acquisition of select assets of Multi Service Corporation, a global transaction management company specializing in fleet, government, and commercial payment programs. The transaction is expected to be 12c-16c accretive to earnings on a GAAP basis in the first twelve months. Non-GAAP accretion, which excludes amortization of acquired intangible assets of approximately 4c per share, is expected to be 16c-20c in the first twelve months. In conjunction with this acquisition, the company will record one-time transaction-related expenses of approximately $2.8M in 4Q12.
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