December 20, 2010 / 1:26 PM / 7 years ago

UPDATE 1-World Fuel to buy Denmark's Nordic Camp for $68.5 mln

* 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 (Reuters) - 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 statement.

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 at closing.

"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 said.

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 Stock Exchange. (Reporting by Krishna N Das in Bangalore; Editing by Jarshad Kakkrakandy)

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