UGI to buy Total's LPG unit in France, continuing international expansion

|About: UGI Corporation (UGI)|By:, SA News Editor

UGI Corp. (UGI +0.2%) says its French subsidiary has reached a preliminary deal to acquire Total's (TOT -0.8%) liquefied petroleum gas unit in France for €400M-€450M ($547M-$615M).

UGI, which is the general partner of retail propane distributor AmeriGas Partners (APU -0.1%), has been seeking growth through international expansion; TOT is trying to sell non-core or mature assets as part of a program to improve its cash flow and profitability.

UGI expects the deal to boost EPS in the first full year.