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


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.

Comments (3)
  • David Boehler
    , contributor
    Comments (62) | Send Message
     
    Total continuing non-strategic assets sales...get your plan, and stick to it.
    2 Jul 2014, 10:55 AM Reply Like
  • mydogmoe
    , contributor
    Comments (1357) | Send Message
     
    Like the move for APU. A Ned market in Europe makes sense...
    2 Jul 2014, 11:39 AM Reply Like
  • mydogmoe
    , contributor
    Comments (1357) | Send Message
     
    New not Ned. Sorry for the typo...
    2 Jul 2014, 11:39 AM Reply Like
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