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Slide #28. UGI Corporation — BP's LPG Distribution Business in Poland
UGI Corporation (NYSE:UGI)
BP's LPG Distribution Business in Poland
UGI Corporation (NYSE:UGI) today announced that its subsidiary, Flaga GmbH, has reached a definitive agreement to acquire the liquefied petroleum gas (LPG) distribution business of BP in Poland. BP's Polish LPG business distributed over 150 million gallons of LPG in 2011 and serves the residential, commercial, autogas, and wholesale segments. UGI's International Propane business distributed over 600 million gallons of LPG throughout Europe in fiscal 2012. The transaction is subject to customary closing conditions including regulatory approval in Poland, and is expected to close during the first half of 2013. Terms of the transaction were not disclosed.
UGI is a holding company. Through its subsidiaries and affiliates, Co. distributes, stores, transports and markets energy products and related services. Co.'s segments are: AmeriGas Propane, which distributes propane and sells, installs, and services propane appliances, including heating systems; UGI International, which includes liquefied petroleum gas distribution businesses and energy marketing business; Midstream and Marketing, which includes energy-related businesses that conduct energy marketing, including renewable natural gas, in the Mid-Atlantic region of the U.S. and California; and UGI Utilities, which consists of the regulated natural gas and electric distribution businesses.
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