UGI to sell propane terminal

A subsidiary of Valley Forge-based UGI Corp. is selling its propane import terminal in Chesapeake, Va., for $49 million.

UGI Energy Services Inc. announced today that it will sell Atlantic Energy to DCP Midstream Partners L.P. The sale is expected to close in August. UGI said it expects to record a gain of about 15 cents per share in its fiscal fourth quarter.

Lon R. Greenberg, UGI chairman and chief executive officer, called the terminal "a high-quality asset with a consistent earnings history," but said it was no longer a strategic asset to the company.