World Kinect Corporation announced that a wholly owned subsidiary has signed a definitive agreement to acquire the Trip Support Services (TSS) division from Universal Weather and Aviation. This acquisition is a strategic move to enhance the company's service offerings.
The total purchase price for the TSS division is approximately $220 million. This amount will be paid through a combination of $160 million in cash at closing and an additional $60 million payable over four years.
This acquisition is expected to expand World Kinect's capabilities and market reach within its core business segments. The investment demonstrates the company's commitment to growth through synergistic opportunities.
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