Edenred: acquisition in fuel cards in the UK
(CercleFinance.com) - Edenred announces that it has signed an agreement to acquire 80% of the share capital of The Right Fuelcard Company (TRFC), the fourth largest fuel card manager in the UK, hence taking a position on a major fuel card market in Europe.
TRFC offers 27,000 corporate customers the opportunity to optimise their fleet management and its 150,000 cardholders can fill up at 90% of UK service stations. It is expected to generate EBITDA of over 11 million pounds in 2018.
The deal, which will mean a disbursement of approximately 95 million pounds, will have an accretive impact on EBIT and net income group share from 2019. Expected early 2019, its closing remains subject to the approval of the competition regulatory authority in the UK.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
TRFC offers 27,000 corporate customers the opportunity to optimise their fleet management and its 150,000 cardholders can fill up at 90% of UK service stations. It is expected to generate EBITDA of over 11 million pounds in 2018.
The deal, which will mean a disbursement of approximately 95 million pounds, will have an accretive impact on EBIT and net income group share from 2019. Expected early 2019, its closing remains subject to the approval of the competition regulatory authority in the UK.
Copyright (c) 2018 CercleFinance.com. All rights reserved.