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UPDATE 1-World Fuel Services to buy fuel supplier Hiller Group
December 16, 2010 / 1:07 PM / 7 years ago

UPDATE 1-World Fuel Services to buy fuel supplier Hiller Group

* Deal to add $0.5-$0.7 to EPS in first 12 months

* Deal expected to be completed within 30 days

* Deal value not disclosed

Dec 16 (Reuters) - World Fuel Services Corp (INT.N), which provides services to aircraft, ships and tanker-truck loading terminals, said it will buy privately held Hiller Group Inc to expand its U.S. general aviation fuel distribution business.

Miami, Florida-based World Fuel said in a statement that the deal, expected to be completed within 30 days, is likely to add 5-7 cents to its earnings per share in the first 12 months, but did not disclose the deal value.

Tampa, Florida-based Hiller has aviation fuel volumes of more than 120 million gallons.

“The addition of Hiller will further expand our presence in branded and unbranded general aviation fuel distribution business,” World Fuel Chief Operating Officer Michael Kasbar said in a statement.

The company sells fuel and services at more than 6,000 locations in 200 countries.

Shares of World Fuel, up by about a quarter in the last three months, closed at $32 on Wednesday on the New York Stock Exchange. (Reporting by Krishna N Das in Bangalore; Editing by Unnikrishnan Nair)

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