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World Fuel to buy fleet payment processor

MIAMI (AP) -- World Fuel Services will spend $137 million to acquire some of the assets of Multi Service Corp.

Miami's World Fuel services ships, jets and trucks across 200 countries. Multi Service, which is based in Overland Park, Kan., is a payment processor for a similar set of companies.

The deal will be funded mostly through existing credit facilities and is expected to close within a month. World Fuel Services Corp. anticipates it will boost earnings between 12 and 16 cents per share in the first twelve months. Analysts polled by FactSet expect the company will earn $2.73 for all of 2012.