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Wednesday, July 2, 2014

UGI to purchase Total's LPG distribution business in France, (NYSE: UGI)

Energy utility UGI Corp said on Wednesday it would purchase French oil major Total SA's LPG distribution business in France for about 400-450 million euros ($545-$613 million). Total's French LPG business distributed over 265 million retail gallons in 2013, serving residential, commercial, industrial and autogas customers.

UGI Corporation (UGI) is a holding company that, through subsidiaries, distributes, stores, transports and markets energy products and related services. Shares of UGI remained unchanged at $50.53. In the past year, the shares have traded as low as $37.88 and as high as $50.96. On average, 568094 shares of UGI exchange hands on a given day and today's volume is recorded at 0.