World Fuel Services to draw on credit facility for UVair purchase

By Sara Rosenberg

New York, Aug. 22 – World Fuel Services Corp. plans to use borrowings under its existing unsecured credit facility and cash on hand to fund the roughly $170 million acquisition of Universal Weather and Aviation Inc.’s UVair fuel business, according to a news release.

A portion of the purchase price is payable over three years.

Closing is expected by year-end, subject to customary conditions.

World Fuel is a Miami-based energy management company.

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