Business News • MarketWire • FleetCor Successfully Completes Acquisition of CTF Technologies |
FleetCor Successfully Completes Acquisition of CTF Technologies |
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FleetCor Successfully Completes Acquisition of CTF Technologies
ATLANTA, GEORGIA--(Marketwire - July 11, 2012) - FleetCor Technologies, Inc. (NYSE:FLT), a global leader in providing fuel card and workforce payment products to businesses, today announced that it successfully completed its previously announced acquisition of CTF Technologies, Inc. ("CTF") for $180 million. FleetCor Technologies, Inc., through its subsidiary, FleetCor Luxembourg Holding2 S.à.r.l., acquired ownership and control of 58,351,039 common shares of CTF (being all of the issued and outstanding common shares of CTF) for a price of approximately Cdn.$3.08 per common shares of CTF. The acquisition was carried out pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) and was approved by final order of the Supreme Court of British Columbia.
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