Summary
CORPAY, INC. (CPAY), formerly known as FleetCor Technologies, Inc., announced on August 31, 2016, the successful completion of its previously announced acquisition of Serviços e Tecnologia de Pagamentos S.A. (STP). This significant transaction was valued at approximately $1.3 billion USD. The acquisition of STP, a Brazilian payment technology company, was made from a consortium of shareholders including major entities like CCR S.A., Arteris S.A., and Raizen Combustiveis S.A. This strategic move marks a substantial expansion for CORPAY into the Brazilian market, likely aimed at diversifying its geographic footprint and enhancing its service offerings in a key emerging economy.
Key Highlights
- 1CORPAY, INC. (CPAY) completed the acquisition of Serviços e Tecnologia de Pagamentos S.A. (STP).
- 2The acquisition price was approximately $1.3 billion USD.
- 3STP is a Brazilian payment technology company.
- 4The sellers included a shareholder group comprising concessionaires CCR S.A. and Arteris S.A., and Raizen Combustiveis S.A.
- 5This acquisition represents a significant expansion into the Brazilian market.
- 6The transaction was previously announced and has now been finalized.
Frequently Asked Questions
The main purpose of this 8-K filing was to announce the completion of CORPAY's (then FleetCor's) acquisition of the Brazilian payment technology company, Serviços e Tecnologia de Pagamentos S.A. (STP).
CORPAY acquired STP for approximately $1.3 billion USD.
STP is a payment technology company based in Brazil.
The sellers included a shareholder group consisting of concessionaires CCR S.A. and Arteris S.A., Raizen Combustiveis S.A. (a joint venture between Shell and Cosan), and other parties.