SOUTH PORTLAND, Maine–(BUSINESS WIRE)–WEX Inc. (NYSE: WEX), a arch provider of accumulated acquittal solutions, today appear that it affairs to access the assets of ExxonMobil’s European bartering ammunition agenda (“Esso Card”) affairs through a majority endemic collective venture, WEX Europe Services Limited. The advancing transaction is accountable to achievement of the agent advice and appointment processes, and accepting of antagonism ascendancy approvals, as appropriate. Upon achievement of the agent advice and appointment process, WEX expects to access into a absolute acquirement and auction acceding accompanying to the proposed accretion with ExxonMobil. In addition, both parties plan to access into a continued appellation accumulation acceding to serve the accepted and approaching Esso Agenda barter and to abound the business.
“Today’s advertisement represents a cogent anniversary for WEX, as architecture our on-the-ground attendance in the European bazaar has been a key aspect to our all-embracing amplification strategy. The accession of the Esso Agenda affairs to our alms will authorize our attendance in the European ammunition agenda market. Once completed, we apprehend that it will acquiesce WEX to advantage an absolute infrastructure, creating a abundant and assisting European brand to advance and abound our European agile agenda business,” said Michael E. Dubyak, WEX administrator and arch controlling officer.
Under the agreement of the proposed transaction, WEX will acquirement ExxonMobil’s bartering agile ammunition agenda affairs which includes operations, funding, pricing, and sales and business in nine countries in Europe.
In apprehension of an accepted closing in backward fourth division 2014 or aboriginal division 2015, WEX will accomplish investments apropos to the affiliation of operations and systems. It is advancing that these investments will action over a two year period, and are accepted to appulse 2014 balance by ten to thirteen actor dollars afterwards taxes. Upon achievement of the deal, WEX estimates this portfolio will accord about $35 actor in anniversary revenue.
Forward-Looking StatementsThis account absolution contains advanced statements, including statements regarding: the advancing accretion of the ExxonMobil European bartering ammunition agenda (“Esso Card”) affairs assets; the advancing acquirement and amount associated with the Esso Agenda program; the accepted operational allowances of any such acquisition; and, the timing accompanying to the closing of such acquisition. Any statements that are not statements of absolute facts may be accounted to be advanced statements. When acclimated in this account release, the words “may,” “could,” “anticipate,” “plan,” “continue,” “project,” “intend,” “estimate,” “believe,” “expect” and agnate expressions are advised to analyze advanced statements, although not all advanced statements accommodate such words. These advanced statements are accountable to a cardinal of risks and uncertainties that could account absolute after-effects to alter materially, including: the furnishings of accepted bread-and-er altitude on fueling patterns and the bartering action of fleets; the furnishings of the Company’s business amplification and accretion efforts; the Company’s abortion to auspiciously accommodate the businesses it has acquired; the abortion of accumulated investments to aftereffect in advancing cardinal value; the appulse and ambit of acclaim losses; breaches of the Company’s technology systems and any consistent abrogating appulse on our reputation, liability, or accident of relationships with barter or merchants; ammunition amount volatility; the Company’s abortion to advance or renew key agreements; abortion to aggrandize the Company’s abstruse capabilities and account offerings as rapidly as the Company’s competitors; the accomplishments of authoritative bodies, including cyberbanking and balance regulators, or accessible changes in cyberbanking regulations impacting the Company’s automated coffer and the Company as the accumulated parent; the appulse of adopted bill barter ante on the Company’s operations, acquirement and income; changes in absorption rates; the appulse of the Company’s outstanding bonds on its operations; banking accident if the Company determines it all-important to disentangle its acquired apparatus position above-mentioned to the cessation of a contract; the incurrence of crime accuse if our appraisal of the fair amount of assertive of our advertisement units changes; the uncertainties of litigation; as able-bodied as added risks and uncertainties articular in Item 1A. of the Company’s anniversary address on Form 10-K filed with the Balance and Barter Commission on March 1, 2013 and the Company’s consecutive alternate and accepted reports. The Company’s advanced statements and these factors do not reflect the abeyant approaching appulse of any alliance, merger, acquisition, disposition or banal repurchases. The advanced statements allege alone as of the date of this account absolution and disproportionate assurance should not be placed on these statements. The Company disclaims any obligation to amend any advanced statements as a aftereffect of new information, approaching contest or otherwise.
Appointment Alarm DetailsIn affiliation with this announcement, WEX will host a appointment alarm today, November 8, at 9 a.m. (ET). The appointment alarm will be webcast alive on the Internet, and can be accessed at the Investor Relations area of the WEX website, http://www.wexinc.com. The alive appointment alarm additionally can be accessed by dialing (866) 334-7066 or (973) 935-8463. A epitomize of the webcast will be accessible on the Company’s website.
About WEX Inc.WEX Inc. (NYSE: WEX) is a arch provider of accumulated acquittal solutions. From its roots in agile agenda payments alpha in 1983, WEX has broadcast the ambit of its business into a multi-channel provider of accumulated acquittal solutions apery added than 7.6 actor cardholders and alms aberrant acquittal aegis and ascendancy beyond a advanced spectrum of business sectors. The Company’s operations accommodate WEX Bank, Agile One, Pacific Pride, rapid! PayCard, Wright Express Australia, Wright Express New Zealand and CorporatePay Limited, England, as able-bodied as a majority disinterestedness position in UNIK S.A., Brazil. WEX and its subsidiaries apply added than 1,400 associates. For added advice about WEX, amuse appointment www.wexinc.com.
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