WEX to acquire Go Fuel Card business of EG Group.

WEX, a leading financial technology service provider, plans to purchase the Go Fuel Card of EG Group, an independent fuel station and convenience retailer in Europe. The anticipated transaction is subject to completion of employee information and consultation processes, and other approvals, as appropriate. Financial terms were not disclosed. "The addition of the Go Fuel Card business will strengthen our position in Europe by expanding our footprint in attractive markets and broadening our card acceptance through an independent, proprietary card network,” said Scott Phillips, President, Global Fleet, WEX. “I am also extremely excited about the opportunity to partner with EG Group to expand our Fleet business throughout EG locations in the U.S., Europe, and Australia. This is an attractive business that projects further reductions to our sensitivity to retail fuel prices while providing us a strong pathway for organic growth and value creation over time.”