World Fuel Services has agreed to acquire Eden Prairie, Minn.-based Western Petroleum, including its branded aviation fuel distribution business, for $95 million. The $95 million purchase price could be increased by up to $20 million if Western’s net assets exceed an agreed target at completion of the deal, which is expected this month. Miami-based World Fuel Services currently provides aviation customers, including corporate aircraft operators, with fuel supply, credit and fuel-price risk management services, ground handling arrangements, overflight and landing permits, flight planning and weather information. Most of these services are provided via its Baseops division.
World Fuel buying Western Petroleum
- October 12, 2010, 6:31 AM