CTF Technologies, Inc. was acquired by FleetCor Technologies, Inc. for US$180 million. FleetCor Technologies, Inc., through its subsidiary, FleetCor Luxembourg Holding2 S.à.r.l., acquired ownership and control of all common shares of CTF for a price of approximately $3.08 per common share of CTF, subject to adjustment. The acquisition was carried out pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) and was approved by final order of the Supreme Court of British Columbia.
FleetCor is a provider of fuel cards and workforce payment products to businesses. CTF provides fuel payment processing services for fleet customers in Brazil.
FleetCor was represented on the transaction by Senior Vice President and General Counsel, Sean Bowen and by Robert Owen and Tatjana Obradovic of Borden Ladner Gervais LLP. FleetCor's Brazilian counsel was Machado, Meyer, Sendacz e Opice Advogados with a team including Daniella Teixeira de Carvalho Tavares and Otavia Bortoti.
CTF Technologies, Inc. was represented in the transaction by McMillan LLP with a team led by Leo Raffin, including Amandeep Sandhu, Sandra Knowler, Amanda Bichai and Bosa Kosoric (securities and corporate); Peter Botz and Christine Man (tax) and Karen Carteri and Peter Reardon (litigation). CTF's Brazilian counsel was Mundie Advogados with a team including Rodolpho de O.F. Protasio, Patricia Nakahara, Mario Fioratti Neto and Antenori Trevisan Neto.