UGI completes $465 million acquisition of French liquefied petroleum gas distribution business
UGI Corp. on Friday announced the completion of the acquisition of Total's liquefied petroleum gas (LPG) distribution business in France for $465 million. The acquisition of Totalgaz doubles UGI's retail propane distribution in France to about 500 million gallons a year.
UGI Corp. on Friday announced the completion of the acquisition of Total's liquefied petroleum gas (LPG) distribution business in France for $465 million. The acquisition of Totalgaz doubles UGI's retail propane distribution in France to about 500 million gallons a year.
The Valley Forge company expects the transaction to reduce per-share earnings by 14 to 18 cents in 2015, due to transaction expenses and the effect of acquiring the business during the off-peak summer months, but it expects it will add to earnings starting in 2016.
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