Jul. 2, 2014, 10:22 AM
- 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.
Oct. 17, 2011, 7:48 AM
Amerigas Partners (APU) to acquire Energy Transfer Partners' (ETP) propane ops for $2.9B - $1.5B cash; $1.3B stock; and $0.1B debt assumption. ETP says the sale will allow it to focus on its pipeline opportunities. After the deal, ETP it will own 34% of APU; before the deal UGI (UGI) had owned 44% of APU. (PR I, II)| Oct. 17, 2011, 7:48 AM