FleetCor to buy Brazilian toll payment company for $1.05B

|About: FleetCor Technologies, Inc. (FLT)|By:, SA News Editor

FleetCor Technologies (NYSE:FLT) agrees to acquire Brazilian electronic toll payment company STP for 4.08B reais ($1.05B).

FLT says STP-issued tags and stickers process ~$2.5B USD in toll, parking, and fuel payments annually for more than 4.5M active users, and provides cardless fuel payments at an expanding number of Shell sites throughout Brazil; STP operates under the Sem Parar brand.

FLT expects the acquisition to be accretive to earnings in 2016 by $0.10-$0.13, depending on the timing of the close.

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