World Fuel Services To Buy Universal Weather And Aviation' UVair Fuel Unit

(RTTNews) - World Fuel Services Corp. (INT) said Thursday that it agreed to buy Universal Weather and Aviation's UVair fuel business for about $170 million. A portion of the purchase price will be payable over three years.

The company said it will fund the purchase price through cash-on-hand and liquidity available through its existing unsecured credit facility. The transaction is expected to be completed by the end of the year.

World Fuel Services expects that transaction will be $0.14 to $0.17 accretive to earnings per share in the first twelve months on a GAAP basis. Non-GAAP accretion is expected to be $0.16 to $0.19 per share.

UVair, headquartered in Houston, Texas, serves business and general aviation customers at more than 5,000 locations worldwide.