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News & Insights

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

July 30, 2020

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 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 T. Segall and senior attorney Jesse M. Weiss on antitrust matters; partner Craig F. Arcella and associate Aashim Usgaonkar on financing matters; associates Cecily Xi and Rebecca L. Fine on tax matters; 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.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Antitrust
  • Capital Markets
  • Tax
  • Executive Compensation and Benefits
  • Intellectual Property
  • Environmental
  • Private Equity
  • Financial Services and Insurance
  • Fintech

People

Photo
Name
Christine A. Varney
Title
Litigation
Title
Partner
Email
cvarney@cravath.com
Phone
+1-212-474-1140
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    Education

    • J.D., 1986, Georgetown University Law Center
    • M.P.A., 1982, Syracuse University
    • B.A., 1977, State University of New York, Albany

    Admitted In

    • New York
    • District of Columbia
    Photo
    Name
    Margaret T. Segall
    Title
    Litigation
    Title
    Partner
    Email
    msegall@cravath.com
    Phone
    +1-212-474-1231
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      Education

      • J.D., 2008, Harvard Law School
        cum laude
      • A.B., 2003, Harvard College
        magna cum laude

      Admitted In

      • New York
      Photo
      Name
      Jesse M. Weiss
      Title
      Litigation
      Title
      Partner
      Email
      jweiss@cravath.com
      Phone
      +1-212-474-1421
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        Education

        • J.D., 2008, Georgetown University Law Center
          magna cum laude
        • B.A., 2003, University of Maryland

        Admitted In

        • New York
        Photo
        Name
        Craig F. Arcella
        Title
        Corporate
        Title
        Partner
        Email
        carcella@cravath.com
        Phone
        +1-212-474-1024
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          Education

          • J.D., 1998, Columbia Law School
            Harlan Fiske Stone Scholar
          • B.A., 1995, Duke University

          Admitted In

          • New York
          Photo
          Name
          David J. Kappos
          Title
          Corporate
          Title
          Partner
          Email
          dkappos@cravath.com
          Phone
          +1-212-474-1168
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            Education

            • J.D., 1990, University of California, Berkeley, School of Law
            • B.S., 1983, University of California, Davis
              summa cum laude

            Admitted In

            • New York
            • California
            • District of Columbia
            Photo
            Name
            Annmarie M. Terraciano
            Title
            Corporate
            Title
            Senior Attorney
            Email
            aterraciano@cravath.com
            Phone
            +1-212-474-1366
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              Education

              • J.D., 1998, Columbia Law School
                Harlan Fiske Stone Scholar
              • M.S., 1994, University of Wisconsin - Madison
              • B.A., 1989, Wellesley College
                cum laude

              Admitted In

              • New York
              Photo
              Name
              Brian M. Budnick
              Title
              Corporate
              Title
              Practice Area Attorney
              Email
              bbudnick@cravath.com
              Phone
              +1-212-474-1914
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                Education

                • J.D., 2011, Benjamin N. Cardozo School of Law
                  cum laude
                • B.A., 2006, University of Virginia

                Admitted In

                • New York

                Related News & Insights

                Deals & Cases

                July 24, 2020

                Centrica’s $3.625 Billion Sale of Direct Energy to NRG Energy

                On July 24, 2020, Centrica plc announced that it has entered into an agreement to sell its North American energy supply, services and trading business, Direct Energy, to NRG Energy, Inc. for $3.625 billion in cash on a debt-free, cash-free basis. Cravath is representing Centrica in connection with the transaction.

                Deals & Cases

                July 09, 2020

                IBM’s Acquisition of WDG Automation

                On July 8, 2020, IBM announced it has reached a definitive agreement to acquire Brazilian software provider of robotic process automation WDG Soluções Em Sistemas E Automação De Processos LTDA (“WDG Automation”). The acquisition further advances IBM’s AI‑infused automation capabilities, spanning business processes to IT operations. Cravath is representing IBM in connection with the transaction.

                Deals & Cases

                July 03, 2020

                Bharti and HMG Consortium to Acquire OneWeb

                On July 3, 2020, communications company OneWeb announced it has entered into an agreement with a consortium led by Bharti Global Limited (“Bharti”) and Her Majesty’s Government (“HMG”) (through the UK Secretary of State for Business, Energy and Industrial Strategy) for the acquisition of the OneWeb business in connection with its court‑supervised sale process. Bharti and HMG have committed to provide more than $1 billion to acquire OneWeb and fund the full restart of its business operations. Following a competitive process, the consortium’s winning bid will enable OneWeb to successfully emerge from the chapter 11 process. The agreement remains subject to approval by OneWeb’s creditors, the U.S. Bankruptcy Court and applicable regulators. Cravath is representing Bharti in connection with the transaction.

                Deals & Cases

                June 16, 2020

                IBM’s Acquisition of Assets from Spanugo

                On June 15, 2020, IBM and Spanugo announced they have entered into a definitive agreement to acquire assets from Spanugo, a U.S.‑based provider of cloud cybersecurity posture management solutions. By integrating Spanugo software into its public cloud, IBM will further meet the security demands of its clients in highly regulated industries. Cravath is representing IBM in connection with the transaction.

                Cravath Bicentennial

                Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.

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