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World Fuel Services' Sale of its Multi Service Payment Solutions Business to Corsair Capital

On July 30, 2020, World Fuel Services Corporation (“World Fuel Services”) announced that it has signed a definitive agreement to sell its Multi Service payment solutions business to Corsair Capital, a New York based private equity firm specializing in financial services. Subject to certain closing adjustments, deferred payment provisions and contingent payment provisions, World Fuel Services will receive a total of approximately $350 million in cash consideration. Cravath is representing World Fuel Services in connection with the transaction.

The Cravath team is led by partners Damien R. Zoubek and Andrew C. Elken and includes senior attorney Brittain A. Rogers and associates Nathan H. Trunnell and Michael P. E. Dooley on M&A matters; partners Christine A. Varney and Margaret Segall D’Amico and senior attorney Jesse M. Weiss on antitrust matters; partner Craig F. Arcella and associate Aashim Usgaonkar on financing matters; partner Kara L. Mungovan and associates Cecily Xi and Rebecca L. Fine on tax matters; partner Jennifer S. Conway, senior attorney Nicole F. Foster and associate Dixing Tang on executive compensation and benefits matters; partner David J. Kappos and associate Carys Webb on intellectual property matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Summer associate George Smith also worked on M&A matters.