World Kinect (WKC) Corporation announced that a wholly owned subsidiary has signed a definitive agreement with Universal Weather and Aviation to acquire its Trip Support Services division. The total purchase price is approximately $220M, consisting of $160M of cash at closing and $60M payable over four years. The company stated the transaction is expected to be approximately 7% accretive to adjusted EPS in the first year and achieve approximately $15M in annual net cost synergies by the end of the second year. The transaction is expected to be completed within 60 to 90 days.
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