UGI Corp Sells AmeriGas Propane for $2.4B
Ticker: UGI · Form: 8-K · Filed: Jun 7, 2024 · CIK: 884614
| Field | Detail |
|---|---|
| Company | Ugi CORP /Pa/ (UGI) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, acquisition, propane
TL;DR
UGI selling AmeriGas to Suburban Propane for $2.4B, closing Q4 FY24.
AI Summary
UGI Corporation announced on June 6, 2024, that it has entered into a definitive agreement to sell its AmeriGas Propane business to Suburban Propane, L.P. for $2.4 billion. This transaction is expected to close in the fourth quarter of fiscal year 2024, subject to customary closing conditions.
Why It Matters
This significant divestiture marks a strategic shift for UGI Corporation, potentially impacting its future growth strategy and financial structure.
Risk Assessment
Risk Level: medium — The sale is subject to customary closing conditions, introducing a degree of uncertainty until completion.
Key Numbers
- $2.4B — Sale Price (UGI Corporation's sale of AmeriGas Propane to Suburban Propane, L.P.)
Key Players & Entities
- UGI Corporation (company) — Seller
- AmeriGas Propane (company) — Business being sold
- Suburban Propane, L.P. (company) — Buyer
- $2.4 billion (dollar_amount) — Sale price
- June 6, 2024 (date) — Announcement date
- fourth quarter of fiscal year 2024 (date) — Expected closing period
FAQ
What is the name of the business UGI Corporation is selling?
UGI Corporation is selling its AmeriGas Propane business.
Who is the buyer of AmeriGas Propane?
The buyer is Suburban Propane, L.P.
What is the total sale price for AmeriGas Propane?
The total sale price is $2.4 billion.
When is the expected closing date for this transaction?
The transaction is expected to close in the fourth quarter of fiscal year 2024.
What are the conditions for the closing of the sale?
The sale is subject to customary closing conditions.
Filing Stats: 488 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-06-06 21:35:23
Filing Documents
- tm2416498d2_8k.htm (8-K) — 25KB
- tm2416498d2_ex99-1.htm (EX-99.1) — 10KB
- 0001104659-24-069203.txt ( ) — 206KB
- ugi-20240606.xsd (EX-101.SCH) — 3KB
- ugi-20240606_lab.xml (EX-101.LAB) — 33KB
- ugi-20240606_pre.xml (EX-101.PRE) — 22KB
- tm2416498d2_8k_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events. On June 6, 2024, UGI Corporation (the " Company ") issued a press release relating to the pricing of its private offering of 5.00% Convertible Senior Notes due 2028 (the " Notes ") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 8.01. Neither this Current Report on Form 8-K nor the press release constitutes an offer to sell, or the solicitation of an offer to buy, the Notes or the shares of the Company's common stock, if any, issuable upon conversion of the Notes.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number: Description 99.1 Press Release, dated June 6, 2024. 104 Cover page interactive data file (embedded within the inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 6, 2024 UGI Corporation By: /s/ Jessica A. Milner Name: Jessica A. Milner Title: Secretary