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    World Fuel Services to Acquire Assets of CarterEnergy

    Company's ground-based fuel volume increases to 3.5 billion gallons.

    MIAMI -- World Fuel Services Corp. has signed a definitive agreement to acquire select assets of CarterEnergy Corp. through its wholly-owned subsidiary, World Fuel Services Inc. The acquisition includes CarterEnergy's wholesale motor fuel distribution business.

    Overland Park, Kans.-based CarterEnergy is a branded distributor for Philips 66, BP, Valero, Suncor, Shell, ExxonMobil, Cenex and Sinclair, and had a 2011 volume exceeding 500 million gallons. The company distributes gasoline and diesel fuel under long-term contracts to more than 700 retail operators and is a supplier to industrial, commercial and government customers in Kansas, Missouri, Colorado, Texas, Oklahoma, Arkansas, Nebraska, Illinois, Iowa, Wyoming, Arizona, Tennessee, New Mexico and Alabama.

    "We look forward to welcoming the CarterEnergy team to World Fuel," said Michael J. Kasbar, president and CEO of World Fuel Services Corporation. "CarterEnergy will further expand our presence in the branded wholesale market and increase our global land volume to more than 3.5 billion gallons."

    The transaction is expected to be 4 cents to 7 cents accretive to earnings on a GAAP basis in the first 12 months, according to the announcement. Non-GAAP accretion, which excludes amortization of acquired intangible assets of approximately 2 cents per share, is expected to be 6 cents to 9 cents in the first 12 months.

    "We are extremely pleased to be joining a company with the reputation and capabilities of World Fuel. This transaction will allow us to utilize our market knowledge and further grow the business," stated Kerry Oliver, president of CarterEnergy.

    The transaction is subject to customary closing conditions and is expected to be completed within the next sixty days.

    Miami-based World Fuel Services sells fuel and delivers services to its clients at 6,000 locations in more than 200 countries and territories worldwide.

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