FleetCor to draw on facilities to fund $70 million of acquisitions

By Ashley Montgomery

Kansas City, Kan., June 7 - FleetCor Technologies, Inc. plans to borrow from its credit facilities to help fund the planned acquisition of two foreign companies, according to an 8-K filed with the Securities and Exchange Commission.

The total price for the two companies is expected to be about $70 million.

The company said it would also use cash on hand to fund the purchases.

One of the transactions is expected to close in the second quarter. The other is still under negotiation.

FleetCor is a Norcross, Ga.-based provider of specialized payment products and services to businesses, commercial fleets, oil companies, petroleum marketers and government entities.

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