Company News

World Fuel Services Announces Public Offering of Common Stock

Will fund potential acquisitions
MIAMI -- World Fuel Services Corp. said that it intends to offer, subject to market and other conditions, up to 7,570,000 shares of its common stock in a registered underwritten public offering. The company intends to grant the underwriters an option for 30 days to purchase up to 1,135,500 additional shares to cover overallotments, if any. World Fuel Services intends to use the proceeds for general corporate purposes, which may include potential acquisitions.

BofA Merrill Lynch, Credit Suisse and J.P. Morgan are serving as joint book-running managers for the common stock [image-nocss] offering.

The shares will be issued pursuant to a shelf registration statement filed with the Securities & Exchange Commission (SEC) yesterday. A copy of the preliminary prospectus supplement and related base prospectus for the offering have been filed with the SEC.

Headquartered in Miami, World Fuel Services is a global leader in the marketing and sale of marine, aviation and land fuel products, as well as related services. World Fuel Services sells fuel and delivers services to its clients at more than 6,000 locations in 200 countries, including airports, seaports, tanker truck loading terminals and other customer storage locations. Land customers include petroleum distributors, retail petroleum operators and industrial, commercial and government accounts.

(Click here for previous CSP Daily News coverage, including details on several recent wholesale motor fuel distribution acquisitions.)

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