UGI Corporation, a distributor and marketer of energy products and services, has signed an agreement to acquire Mountaintop Energy Holdings LLC, owner of Mountaineer Gas Company, for $540 million. Mountaineer is the largest local gas distribution company in West Virginia.   The acquisition includes the assumption of about $140 million of debt. Mountaineer serves about 215,000 customers across 50 of West Virginia’s 55 counties. UGI (UGI) believes that the acquisition will increase its regulated utility rate base and customers served by nearly 14% and 30%, respectively. The deal is in line with the company’s strategy to direct its growth investments towards natural gas and renewable energy solutions opportunities.
https://www.tipranks.com/news/ugi-snaps-up-mountaineer-gas-company-for-540m-to-strengthen-natural-gas-business