FleetCor To Acquire Serviços E Tecnologia De Pagamentos - Quick Facts

(RTTNews) - FleetCor Technologies, Inc. (FLT) announced it has signed a definitive agreement to acquire Serviços e Tecnologia de Pagamentos S.A., from a shareholder group including concessionaires CCR S.A. and Arteris S.A., Raizen Combustiveis S.A., and others, for approximately $1.05 billion. STP, which operates under the brand Sem Parar, is Brazil's leading electronic toll payments company. The company has approximately 2,200 employees and is headquartered in Sao Paulo, Brazil.

"We expect the acquisition to be accretive to earnings in 2016, in the range of $0.10 - $0.13 depending on timing of close. While our financial leverage will increase, we expect to de-lever quickly from the combined cash flow of the businesses," said Eric Dey, CFO of FleetCor.