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Tue 28 Jun 2011, 17:25 GMT

WFS acquires Yacht Fuel Services


YCO Group agrees to sell its fuel business in order to focus on the development of its core services.

YCO Group has announced that it has reached an agreement with World Fuel Services Europe, Ltd. for the sale of its Yacht Fuel Services business.

Yacht Fuel Services (YFS) was founded over 20 years ago as a global fuel provider for privately owned superyachts. The company provides customers with pricing for premium grade yacht fuel, aviation fuel and lubricants.

Commenting on the deal, YCO Group said World Fuel Services would retain the Yacht Fuel Services brand and key personnel.

"Customers will benefit from World Fuel’s significant global supply and service footprint, in addition to easy online purchasing with its Bunkerline web-based procurement system," added YCO Group.

YCO Group said the sale of YFS forms a part of its strategy to focus on and invest in the development of its core services of superyacht brokerage and management.

Net proceeds of the sale will be used for working capital purposes to expand operations globally and to further enhance the group's offering in these areas, YCO said.

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