* Says deal value may go up
* Deal seen adding $0.09-$0.11 to EPS in 12 months
* Excl items, deal to add $0.17-$0.19 in 12 months
* Deal expected to close in next 30 days
Dec 20 World Fuel Services Corp (INT.N) agreed
to buy Denmark-based Nordic Camp Supply, a provider of fuels
and related logistics solutions for armed forces in
Afghanistan, for at least $68.5 million.
World Fuel, which provides services to aircraft, ships and
tanker-truck loading terminals, said the deal is likely to add
9-11 cents per share to its earnings in the first 12 months.
Excluding items, the deal -- expected to close in the next
30 days -- will likely add 17-19 cents, World Fuel said in a
This is the second deal made by World Fuel in two weeks. On
Dec. 16, the company agreed to buy Hiller Group to expand its
U.S. aviation fuel business. [ID:nSGE6BF08R]
Miami, Florida-based World Fuel said the deal value may be
increased if Nordic Camp's net assets exceed an agreed amount
"Their experience in managing fuel logistics in challenging
environments will complement our existing government-related
activities and provide a solid platform for further growth in
the fuel logistics market," World Fuel's COO Michael Kasbar
Up to $10 million of the price and all or a portion of any
increase in the purchase price above $68.5 million may be paid
in World Fuel's stock.
The balance will come from cash-on-hand, World Fuel said.
World Fuel shares, which are up by about a quarter in the
last three months, closed at $32.82 on Friday on the New York
(Reporting by Krishna N Das in Bangalore; Editing by Jarshad