World Kinect Corp sells Avinode Group to Hearst's CAMP Systems International for $200M, using proceeds for debt repayment and platform enhancement.
World Kinect Corp (WKC) sells Avinode Group, a leading air charter sourcing platform, and aviation FBO software products to Hearst's CAMP Systems International for $200M cash. Proceeds will be used for debt repayment, reducing interest expense by $10M, with additional liquidity boosting core platform and sustainability offerings. Deal expected to close in 60 days, subject to regulatory approvals.
March 12, 2024
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