BRIEF: UGI Corp. reaches deal to buy French propane business

Philadelphia Inquirer (PA) |

July 02--UGI -- Corp., the Valley Forge energy company, said it has reached an agreement in principle to buy French oil giant Total SA's propane-distribution business in France for $545 million to $613 million.



Totalgaz distributed more than 265 million retail gallons of liquefied petroleum gas (LPG) in 2013 to residential, commercial and industrial customers. UGI distributed about 600 million gallons of LPG in Europe last year, including 250 million gallons distributed by its Antargaz unit in France.

UGI, the general partner of retail propane distributor AmeriGas Partners, has been growing through international acquisitions. Total has been selling non-core assets in an effort to improve profitability.

___

(c)2014 The Philadelphia Inquirer

Visit The Philadelphia Inquirer at www.philly.com

Distributed by MCT Information Services

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
UCSO United Consortium Ltd 0.02 0.00 0.00 0

Comments

Emerging Growth

Lomiko Metals Inc.

Lomiko Metals Inc is an exploration stage company. It is engaged in the acquisition, exploration and development of resource properties. Its projects include Vines Lake project and Quatre - Milles…

Private Markets

D-Wave

D-Wave Systems is the first quantum computing company. Its mission is to integrate new discoveries in physics, engineering, manufacturing, and computer science into breakthrough approaches to computation to help solve…

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…