World Fuel's $191M acquisition to expand U.K. land segment

|About: World Fuel Services Corpora... (INT)|By:, SA News Editor

World Fuel Services (INT) agrees to acquire Watson Petroleum, a distributor of gasoline, diesel, heating oil, lubricants and other products and related services across England and Wales, for £117M ($191M).

Watson is one of the largest fuel distributors in the U.K., with expected 2013 revenue of $2.2B.

INT expects non-GAAP accretion, which excludes amortization of acquired intangible assets of ~$0.10/share, of $0.28-$0.32 in the first 12 months.